VA Loan
Anybody who qualifies for a VA loan is provided with various financial benefits. It has been determined that over 60 million Americans are eligible to enjoy the benefits of VA. However, it has been observed that many people don't take advantage of the opportunity to claim these benefits. Are you one of them? If yes, we can definitely help... Connect with our VA specialist to inquire about the eligibility criteria for VA loans.
A VA loan is guaranteed by the U.S Department of Veteran Affairs. This department helps in providing home loans to veterans to purchase a home for themselves. As the VA loans are guaranteed loans, they provide a protection to the lender in case the veteran is unable to pay back the loan. This gives lenders a huge incentive to lend to veterans at rates and terms that might not otherwise be available.
VA loans are available to the former and active members of the armed forces, though they need to meet some special criteria in terms of length and time of the service with discharge conditions. Other people to whom the VA loan is open are the Reservists and National Guard members, if they have been on the job for 6 years and have been discharged honorably. These benefits are also extended to members of the public health service. Additionally, a widow or widower can also benefit from a VA loan if the spouse's death was service related.
VA loans help eligible veterans with obtain financing for buying a home. You'll get favorable loan terms with a low rates and low payments. Talk to our
VA Loans specialist now to understand more about the loan terms and rate of interest provided.
VA loans-Rewarding our Veterans
With no down payment, you can borrow a maximum VA loan amount of $417,000 in most states. However, just like FHA loans, loan limits have been increased in some high cost areas to as much as $1,000,000. So, how much home can you qualify for? Fill out this short form to get a personalized analysis of the amount you qualify for.
- VA loan provides up to 100 percent financing for qualified veterans.
- Closing costs typically amount to 3 to 4 percent of the loan amount. However, VA allows the seller to pay up to 6 percent of your closing amount. That's a unique benefit that is not available with most conventional mortgage loans.
- There are no prepayment penalties.
- With VA loans, you can purchase a home two years after bankruptcy.
- You can purchase home three years after a previous foreclosure.
- Provides default assistance to the foreclosure process (i.e. they do everything possible to keep you in your home if you run into financial difficulty.)
With a VA loan you'll be one step closer to making your dream of owning a home a reality. You can buy a single family home, condominium or a townhouse in a VA approved area, a manufactured lot or home and a residence with a new construction. With so many options available, have you picked out your dream house yet? Our specialist can help you figure out which option will work best for you.
Contact us about your VA Loan today!
