Why is a VA loan so great?

VA loans are ONLY offered to those who have served in a branch of the military – and they are earned.  There are many great features of this loan program. The most basic of these are:

  1. Zero down payment required
  2. No private mortgage insurance required (other borrowers with less than 20% down pay monthly to insure the lender against risk).
  3. Loan limits as high as $424K

Is there a downside to these loans?  Here are a few:

  1. VA appraisers are a bit stricter than other appraisers.
  2. Sellers are obligated to pay some closing costs for the buyer – which may make an offer less attractive.

Many lenders offer VA loans. Contact me to learn more.

 


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s