VA Loans Help Military Homebuyers

VA Loans Help Military Homebuyers

VA loans are a great loan option for those who have served our country. These loans backed by the U.S. Department of Veterans Affairs, provide an affordable way for many military families to own their own home – and a way to say thank you for your service!

Active-duty service members, veterans and surviving spouses could qualify for a VA mortgage loan for the purchase of a home and even for refinancing. National Guard members and Reservists also may be eligible with certain service requirements.

The best feature of a VA-guaranteed loan is that a down payment is usually not required. This is ideal for those of you who have careers in the military, but have yet to save for a down payment. The loan must be used for a primary residence or to refinance an existing loan.

We also waive out processing fee for those using the VA-guaranteed loan.

Benefits to taking out a VA loan:

• No down payment required (Remember there are still closing costs)

• Rates typically lower than Conventional or FHA financing

• No cap on seller closing help

• No Private Mortgage Insurance (PMI)

•The VA Funding Fee is waived if you have a service-connected disability. 

Keep in mind, there is a one-time VA Funding Fee. This fee varies depending on the type of transaction, the down payment amount, if any, and if you have used your VA benefits before. The fee can be rolled into your loan so you don’t have to pay it out of pocket. This funding fee is waived if you are considered to have a service-connected disability. 

VA loans have some “special” provisions to them so please reach out to me if this is something you think you may be eligible for. I can help!

Helping people who have served our country become homeowners is something I love to do.  If you or anyone you know is active duty or retired  military or is a surviving spouse, I’d love to help them become a homeowner using a VA loan.