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Down Payment Assistance for Veterans: How It Layers With a VA Loan
A VA loan already allows financing up to 100% of the purchase price for eligible veterans. Some veterans still look at down payment assistance to cover closing costs or the VA funding fee. Here is how the two actually interact.
A VA loan already lets eligible veterans, active-duty service members, and surviving spouses finance up to 100% of the purchase price, so there is usually no down payment gap to fill. Assistance more often helps with closing costs and the VA funding fee, and a limited number of state and local programs allow pairing with a VA first mortgage. Rules vary by state.
- ✓A VA loan typically requires no down payment for eligible borrowers with full entitlement.
- ✓Down payment assistance for veterans is usually about closing costs, not the down payment itself.
- ✓Some state HFA programs allow their DPA second mortgage to be paired with a VA first mortgage — confirm eligibility with the specific agency.
- ✓Veterans with a service-connected disability rating may be exempt from the VA funding fee, which changes the math further.
- ✓We are a mortgage broker, NMLS# 2620881, licensed in Florida and Colorado only, and we are not affiliated with the VA, any state housing finance agency, or the Department of Defense.
What this means for you: check your VA entitlement and funding-fee exemption status first, then look at state DPA only for closing-cost help.
Written by
Simply Approved Mortgages Team
Licensed Loan Officers · NMLS# 2620881
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Scenario summary
- Purchase price entered
- $412,000
- Down payment entered
- $20,600
- Estimated loan amount
- $391,400
- Estimated cash to close
- $14,300
- Programs reviewed
- 4
Sample layout with example figures — your own numbers replace these. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Do veterans need down payment assistance if they already qualify for a VA loan?
Usually not for the down payment itself. The VA home loan guaranty program allows eligible veterans, active-duty service members, and certain surviving spouses to finance up to 100% of the purchase price with full entitlement, so there is often no down payment gap for a DPA program to fill. Where assistance can still matter is closing costs, prepaid items, and the VA funding fee, which is a percentage of the loan amount charged on most VA loans (some veterans with a service-connected disability rating are exempt).
Because of this, veteran-focused down payment assistance is really assistance layered on top of a VA-guaranteed first mortgage, not a substitute for the VA's own no-down-payment benefit.
How DPA can be layered with a VA loan
Some state HFAs and local programs allow their down payment/closing-cost assistance second mortgage to be combined with a VA first mortgage, subject to that agency's own rules, income limits, and often first-time buyer status. Not every state program allows this combination, and some housing finance agencies restrict DPA to FHA or conventional first mortgages only. Confirm directly with the administering agency before assuming a combination is allowed.
The VA funding fee and how it interacts with assistance
Most VA loans include a one-time funding fee that can be financed into the loan or paid in cash. The fee percentage depends on your down payment amount, whether it is your first use of VA entitlement, and your service category. Veterans who receive VA disability compensation are generally exempt. Where a veteran chooses to pay some closing costs or the funding fee in cash, a DPA second mortgage or grant can offset that cash requirement.
General state and local programs open to veterans
Beyond any dedicated veteran carve-out, veterans can also apply to the same general state HFA and local down payment assistance programs available to any income-qualified buyer. In many states these general programs are the larger and more reliably funded source of help, compared to any narrower military-specific allocation.
What to check if you are a veteran considering DPA
- Your VA entitlement status and whether you have full or reduced entitlement remaining.
- Whether you qualify for a funding-fee exemption through the VA.
- Whether your state's DPA program allows pairing with a VA first mortgage.
- Your county's income limit and whether the program requires first-time buyer status.
- Current funding availability, since state and local allocations can pause mid-year.
Want these numbers built around your file?
A short request is all it takes to get a written scenario summary back from a Simply Approved Mortgages Loan Officer. Binding figures appear on your Loan Estimate.
Eligibility basics for a VA loan itself
VA loan eligibility depends on your length and character of service, discharge status, and Certificate of Eligibility. Standard underwriting still applies: credit, income, residual income guidelines, and appraisal by a VA-approved appraiser. Down payment assistance does not change VA credit or occupancy requirements.
What we are licensed to help with
Simply Approved Mortgages LLC is a mortgage broker licensed in Florida and Colorado only, NMLS# 2620881. If you are a veteran buying in Florida or Colorado, a Simply Approved Mortgages Loan Officer can review your VA entitlement, check current CHFA (Colorado) or Florida Housing programs against a VA first mortgage, and confirm funding-fee exemption status with your Certificate of Eligibility. We are not affiliated with the Department of Veterans Affairs, any state housing finance agency, or the Department of Defense, and we cannot originate loans for properties outside Florida or Colorado.
Program terms and funding change — nothing here is a promise
Down payment assistance program terms, funding-fee percentages, and state allocation availability are set and changed by their respective agencies. Nothing on this page guarantees that funds are currently available, that a specific program allows VA pairing, or that you will be approved for any specific dollar amount.
Rates, payments, and program figures on this page are illustrative and not a quote, lock, offer, or commitment to lend. Binding figures appear on your Loan Estimate.
How down payment assistance layers with a VA-guaranteed loan
VA loans already allow no down payment for eligible, entitled borrowers, so assistance programs typically serve veterans covering closing costs, a funding fee, or the portion of a purchase above entitlement limits.
| What it is | How it actually works | Published by |
|---|---|---|
| VA loans do not require a down payment | For eligible veterans with sufficient entitlement, VA-guaranteed loans can finance up to 100 percent of the purchase price, so assistance is generally about closing costs, not the down payment itself. | U.S. Department of Veterans Affairs, Lender’s Handbook M26-7 |
| VA funding fee | Most VA loans carry a funding fee set by statute, calculated as a percentage of the loan amount, which can be financed into the loan or paid at closing; certain disabled veterans are exempt. | U.S. Department of Veterans Affairs, Lender’s Handbook M26-7 |
| State and local DPA layering | State housing finance agencies and local programs may permit their down payment or closing-cost assistance to be combined with a VA first mortgage, subject to that program’s own eligibility and lien-position rules. | Lender program guidelines (vary by investor) |
| Second-lien structure | Assistance is commonly structured as a forgivable, deferred, or amortizing second mortgage behind the VA first lien, and the VA loan’s guaranty applies only to the first-lien VA loan. | U.S. Department of Veterans Affairs, Lender’s Handbook M26-7 |
| Seller concessions | VA rules cap the amount a seller may contribute toward the buyer’s costs, which interacts with how much assistance is actually needed at closing. | U.S. Department of Veterans Affairs, Lender’s Handbook M26-7 |
| Entitlement and loan limits | Above a veteran’s available entitlement, a down payment may be required on the excess amount; VA no longer imposes a maximum loan amount for most first-time-use borrowers with full entitlement, but a required down payment can still arise for those with reduced entitlement. | U.S. Department of Veterans Affairs, Lender’s Handbook M26-7 |
| Occupancy requirement | VA loans require the veteran to certify intent to occupy the property as a primary residence, which also governs the eligible use of layered assistance. | U.S. Department of Veterans Affairs, Lender’s Handbook M26-7 |
| Grant versus loan-type assistance | Some assistance is a true grant with no repayment; other programs are structured as a repayable or forgivable loan, and the distinction affects the veteran’s total obligation. | Lender program guidelines (vary by investor) |
Program parameters above are published by the agencies and enterprises named in the right-hand column and can change. They describe program rules, not an offer; eligibility, terms, conditions, and availability vary by borrower, property, lender, loan program, and state, and all loans are subject to lender underwriting and approval.
Why assistance matters for a VA borrower even without a down payment requirement
The reflexive assumption is that down payment assistance is irrelevant to VA borrowers because VA financing already reaches full purchase price for eligible, entitled veterans. In practice, the barrier for many VA borrowers is not the down payment but closing costs and the VA funding fee, both of which are due in cash or financed at closing. Assistance layered under a VA loan typically targets exactly that gap: covering non-recurring closing costs, prepaid escrow items, or the funding fee itself where the assistance program permits that use, letting a veteran close with less out-of-pocket cash even though the loan-to-value math never required a down payment in the first place.
Check where pricing sits before you decide
Review current rate context, then start a request so your own credit, income, and property details drive the numbers. Illustrative only — not a quote or commitment to lend.
How the second-lien structure actually works
Assistance combined with a VA first mortgage is almost always documented as a separate lien — a second mortgage behind the VA loan — rather than folded into the VA note itself. That second lien can be a true grant with no note at all, a silent second that is forgiven after a period of continued occupancy, or a small amortizing loan repaid alongside the first mortgage. The VA’s guaranty applies only to the VA-guaranteed first loan; the second lien’s terms, forgiveness conditions, and repayment triggers are governed entirely by the assistance program administering it, so reading that program’s note and any recapture provisions matters as much as reading the VA loan documents.
Where entitlement, not assistance, becomes the limiting factor
Veterans with full entitlement generally are not subject to a VA-imposed maximum loan amount, but veterans with remaining, reduced entitlement — because a portion is tied up in a prior VA loan — can still encounter a down payment requirement on the excess above what their entitlement supports. In that specific case, layered down payment assistance can do the job a down payment would otherwise do: closing the gap between what entitlement guarantees and what the purchase price requires. Confirming current entitlement through a Certificate of Eligibility early avoids discovering this gap late in the process.
What documentation a layered VA plus DPA file requires
Layering a second program on top of VA financing adds its own paperwork on top of standard VA loan documentation.
| Type of income or evidence | How it is documented | Why it works for this product |
|---|---|---|
| Certificate of Eligibility | VA-issued COE confirming entitlement status and any prior use. | Establishes whether full entitlement applies or a down payment could be required on the excess. |
| Assistance program eligibility documentation | Income limits, homebuyer education certificate, or other conditions set by the administering agency. | DPA programs impose their own eligibility criteria independent of VA requirements. |
| Second-lien note and any recapture terms | The assistance program’s promissory note or grant agreement, including forgiveness or repayment triggers. | Determines the veteran’s actual long-term obligation, if any, tied to the assistance. |
| VA funding fee exemption documentation, where applicable | VA disability rating letter or other exemption evidence. | Determines whether the funding fee applies at all, which changes how much assistance is actually needed. |
Documentation requirements vary by lender, program, and file. The list above describes what underwriting commonly accepts, not a determination about your income or your approval.
Ways a veteran can address closing costs
Down payment assistance is one of several tools; seller concessions and lender credits are the usual alternatives.
| Option | Usually the better choice when | What you give up |
|---|---|---|
| Layered down payment assistance program | You qualify for a state, local, or nonprofit program and want to minimize cash to close. | A second lien with its own terms, and program-specific eligibility rules to navigate. |
| Seller-paid closing costs | The seller is willing to contribute within VA’s allowable concession limits. | Depends entirely on negotiating leverage in the specific transaction. |
| Financing the funding fee into the loan | You want to preserve cash and are comfortable with a slightly larger loan balance. | Increases the loan amount and total interest paid over the life of the loan. |
A worked example: what assistance actually covers
Illustrative only. Not a quote, lock, offer, or commitment to lend; figures are round numbers used to show the method, and binding figures appear on your Loan Estimate.
A veteran with full entitlement purchases a home for $350,000 with no down payment required by the VA loan itself. Closing costs and prepaid items total roughly $9,000, and a VA funding fee applies unless the veteran is exempt. A layered state assistance program provides a second-lien amount toward those closing costs. The VA loan still finances the full purchase price; the assistance addresses the cash-to-close gap, not the loan-to-value.
Illustrative only. Figures are examples used to show the arithmetic and are not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate.
Get a written summary of your options
Tell us the scenario you are working on and a Simply Approved Mortgages Loan Officer reviews it against real program guidelines, with no obligation.
How this applies in Florida and Colorado
Florida. In Florida, veterans can pursue state and local down payment and closing-cost assistance programs layered under a VA first mortgage; Simply Approved Mortgages LLC arranges VA loans for Florida properties and can walk through which assistance programs currently permit VA layering.
Colorado. In Colorado, veterans similarly have access to state and local assistance programs that can layer under a VA first mortgage; Simply Approved Mortgages LLC arranges VA loans for Colorado properties and can confirm current program eligibility and second-lien terms.
Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado, so the two applications above are the ones we can act on for a consumer file. Business-purpose loan products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
How to layer down payment assistance onto a VA loan
Confirm both programs independently before assuming they combine cleanly.
- Request your Certificate of Eligibility. Confirm entitlement status before assuming full entitlement applies.
- Identify assistance programs available in your state or locality. Confirm the program explicitly permits combination with a VA first mortgage.
- Review the second-lien terms. Understand whether the assistance is a grant, forgivable loan, or repayable loan, and any recapture conditions.
- Confirm VA funding fee status. Determine whether an exemption applies and how the fee will be handled.
- Negotiate seller concessions where useful. Combine seller-paid costs with assistance within VA’s allowable concession limits.
- Complete any required homebuyer education. Many assistance programs require a course or certificate before closing.
- Close with both liens properly recorded. Confirm the VA first mortgage and the assistance second lien are documented and recorded correctly at closing.
Mistakes that cost people money on this
- Assuming down payment assistance is irrelevant because VA loans require no down payment.
- Not checking whether an assistance program actually permits combination with a VA first mortgage.
- Overlooking a required down payment on the portion of a purchase above reduced entitlement.
- Failing to read the second lien’s forgiveness or recapture terms before closing.
- Not confirming VA funding fee exemption status before assuming it applies.
- Skipping required homebuyer education and discovering it late in the process.
Is this the right move for your situation?
The honest answer depends on the file. These are the patterns we see on both sides.
Usually a good fit when
- You are a veteran with limited cash for closing costs despite qualifying for VA financing.
- You have reduced remaining entitlement and are purchasing above what it fully supports.
Usually not the right move when
- You have ample cash reserves and would rather avoid a second lien on the property.
- The available assistance program does not permit combination with VA financing.
None of this is a determination about your file. A Simply Approved Mortgages Loan Officer can run your actual numbers and show you what your disclosures would say.
What you can do with this loan
Cover closing costs and prepaid items on a VA purchase.
Offset a financed or cash-paid VA funding fee.
Combine a general state HFA program with a VA first mortgage where allowed.
Reduce out-of-pocket cash needed at closing for a surviving spouse using VA benefits.
Pair with a VA renovation or rehab option where the agency permits it.
Pros & cons — honest tradeoffs
Pros — Pros & cons
- +A VA loan already removes the down payment barrier for most eligible veterans.
- +DPA can meaningfully reduce or eliminate remaining closing-cost cash requirements.
- +Funding-fee exemptions can lower the total loan amount needed.
- +General state and local DPA remains open to veterans even without a dedicated program.
- +A Simply Approved Mortgages Loan Officer can check your Certificate of Eligibility alongside DPA eligibility.
Cons / watch-outs — Pros & cons
- −Not every state DPA program allows pairing with a VA first mortgage.
- −Funding is not guaranteed and can pause without notice.
- −DPA is usually a recorded second lien, not unconditional cash.
- −You still must meet VA credit, income, and residual income requirements.
- −Some online claims about "veteran grants" are outdated or not tied to a real government program — verify with the VA or the state agency directly.
Compare loan officer compensation on your mortgage quote
Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.
Compensation difference on this illustration: $3,750.
How lower compensation can help you
When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.
Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.
A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.
As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.
Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.
Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.
Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
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2026 buying power
Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125
VA loans already cover the down payment
Full entitlement typically means 0% down; DPA usually targets closing costs instead.
Funding-fee exemptions exist
Veterans with a service-connected disability rating may not owe the VA funding fee at all.
Not every state allows the pairing
Confirm directly with the agency whether its DPA can layer with a VA first mortgage.
Cost and payment tools
Run your payment, affordability, closing cost and refinance numbers
Monthly payment, affordability, closing costs, refinance break-even and early payoff, all on one screen. This page is not written for one state, so property tax, insurance and transfer or recording charges start at neutral placeholder assumptions rather than published averages — Transfer, documentary-stamp and recording charges are set by your state and county — enter your own figure, or open the state page for a sourced seed. Insurance and tax assumptions vary widely by state, county and property, so replace these starting values with quotes for your address. Every figure is an illustrative estimate, not a quote, lock, offer, approval, or commitment to lend.
Your inputs
Estimated result
- Down payment
- $20,000
- Loan amount
- $380,000
- Principal & interest
- $2,402
- Property tax
- $333/mo
- Homeowners insurance
- $167/mo
- Estimated total monthly
- $2,902/mo
Reference sources: Tax Foundation — property taxes paid as a percentage of owner-occupied housing value, NAIC — Homeowners Insurance Report, CFPB — Understanding your Loan Estimate.
Assumptions, methodology, and limitations
Principal and interest use the standard amortization formula on the loan amount you enter. This page does not target a single state, so the property tax and insurance fields start at neutral placeholder assumptions rather than published averages — replace them with figures for your own address, or open the matching state page for sourced seeds. Closing costs apply your state's transfer / documentary-stamp practice (0.00% of price used as the buyer-side seed) plus typical title, recording, appraisal, credit and prepaid escrow lines. Refinance break-even divides your entered costs by the monthly payment difference. Early payoff runs a month-by-month amortization with your extra principal.
These tools do not include mortgage insurance, funding or guarantee fees, HOA special assessments, flood or windstorm premiums, seller credits, lender credits, discount points, or county and municipal charges specific to your parcel. Statewide averages will not match any individual property. Figures are estimates only.
Illustrative only. Binding figures appear on your Loan Estimate, and terms vary by borrower, property, lender, program, and state.
Turn these estimates into real numbers
Send your scenario to a Simply Approved Mortgages Loan Officer and get a written summary back, or compare where rates sit today. Educational only — not a quote, lock, offer, approval, or commitment to lend.
Down payment assistance for veterans FAQs
Answers to the most common down payment assistance for veterans questions, written by licensed loan officers.
Ask SAM anything about mortgages
SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.
Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.
Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.
Sources & Citations
- U.S. Department of Veterans Affairs — VA home loans
- U.S. Department of Veterans Affairs — VA Lender’s Handbook M26-7
- U.S. Department of Veterans Affairs — VA funding fee and exemptions
- U.S. Department of Housing and Urban Development — HUD state and local homebuyer resources
Sources: government and agency publications listed above. Simply Approved Mortgages LLC is not affiliated with, endorsed by, or sponsored by HUD, FHA, VA, USDA, or any government agency. Program rules change; the published source text governs.
Trusted government resources
These independent government resources can help you research mortgage programs, rates, and your rights before you apply.
Department of Veterans Affairs
VA — Home Loans
Department of Veterans Affairs
VA — Funding Fee Rates
HUD
HUD — State Housing Resources
CFPB
CFPB — VA Loans Overview
Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.
How this page connects
Where this fits in the buying a home library
This page sits inside our Buying a home coverage.
What most readers open next
- The purchase mortgage guideBecause the full path from pre-approval to closing.
- The affordability worksheetBecause to set a price range you can actually document.
- What closing costs coverBecause the second number every buyer underestimates.
- The down payment estimatorBecause to compare low-down-payment structures side by side.
- The document checklistBecause so underwriting does not stall on paperwork.
Explore the full guide
Keep reading — the rest of the buying playbook
Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.
Guide
VA Loans Overview
Eligibility, entitlement, and the VA loan process.
Read the guide →Guide
VA Certificate of Eligibility
How to request and read your COE.
Read the guide →Guide
VA Funding Fees
Current fee percentages and exemptions.
Read the guide →Guide
VA Entitlement Restoration
How entitlement is restored after a prior VA loan.
Read the guide →Guide
Down Payment Assistance (All States)
The nationwide DPA landscape and program types.
Read the guide →Guide
Florida Down Payment Assistance
Florida Hometown Heroes and other statewide programs.
Read the guide →Guide
Colorado Down Payment Assistance
CHFA and city programs for Colorado buyers.
Read the guide →Guide
Mortgage Pre-Approval
Start with a baseline approval before applying for DPA.
Read the guide →Guide
VA loans overview
How VA entitlement and guaranty work generally.
Read the guide →Guide
Down payment assistance programs
A broader look at available assistance programs.
Read the guide →Internal library
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Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.
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Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.
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NMLS Consumer Access: Verify Simply Approved Mortgages LLC, NMLS #2620881.
Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.