Lenders today are requiring large down payments to secure the loan. Most conventional loan programs require 10-20% down, putting home ownership out of reach for most home buyers.
Veterans Home Loans are perfect because the borrower
can finance 100% of the home's value and purchase with $0.00 down and with no monthly MI payment. In addition, the VA home loan's low interest rates make it one of the very best loans available.
100% Financing! Because Veterans Home Loans are insured by the federal government, lenders do not require a down payment. This makes VA home loans one of the only programs that can still offer 100% financing.
NO Monthly PMI! Private Mortgage Insurance (PMI) is an insurance that most lenders require of all borrowers who put less than 20% down. Its purpose is to protect the lender against losses should the borrower default. However, with a military VA home loan you pay $0.00 PMI, which saves you hundreds of dollars each month.
LOW Interest Rates! Veterans home loans have some of the lowest rates available. Local VA Rates
LOW Closing Costs! The VA regulates and controls closing costs in connection with a VA home loan.
EASY to Qualify! The guidelines to qualify are not as strict as some of the other programs. The key document required is a VA Certificate of Eligibility.
Ready to Get Started? (Just 3 Steps!)
1. Are you a First Time Buyer? If you are, you should review the Purchase Process. And then, ...
2. Figure out how much you can afford to pay for a home. The way to do this is to calculate your Debt-to-Income ratio, or you can contact us so that we can do that for you.
3. Get Pre-Approved on your home loan. Knowing that your mortgage loan and credit report are already approved will let you look for your new home with confidence.
Also, a pre-approval lets the seller know that your offer is solid and that you're a serious buyer.
Let us know when you are serious about buying a home by filling in the request form information. Click button below to get started.
For additional questions regarding any Military Home Loans and/or Veterans Home Loans please contact us.
