The VA Home Loan Advantage

There are several advantages to using VA's Home Loan Program.  Based on today's standards, the VA Home Loan Program is still the Best Value in the Market with 10% Down or Less. Let's review the Features and be sure to consider all of your options regardless of what you may have heard in the market place.

Features and Benefits of the VA Home Loan Program

  • 100% Financing on 1-4 Unit Homes, Condo’s, Townhomes and Planned Unit
    Developments (PUD). New Construction always welcomed !
  • New Construction made simple,.. Appraise when the Construction is
    Complete, Register the Builder with VA and obtain a “2-10 Home Construction
    Warranty” and you’re Ready to Close!
  • Seller can Pay ALL CLOSING COSTS including PRE-PAIDS Expenses
  • A True ZERO INVESTMENT Loan Option
  • Veterans's closing costs are limited by the VA
  • No Additonal Inspections Required
  • Ratios 41/41 - above Average Qualification and NO Housing Ratio
  • Loans are assumable in cases of a need to sell quickly, provided the assume is qualified
  • Additional assistance is offered by VA should veterans have problems making their home loan payments in the future
  • Prepayment of the loan without a penalty

Quick Facts you may find useful concerning purchase transactions:

  • VA does have a maximum loan amount - $417,000 ($625,500 in Hawaii, Guam, Alaska and U.S. Virgin Islands) with no down payment
  • With a down payment, loans may exceed these amounts
  • The veteran does have to occupy the home as their primary residence or his Family when Deployed
  • Benefits Never Expire - The veteran may reuse his/her benefit as many times as needed only allowing for one Loan at a time
  • The lender, not VA, sets the interest rate, so they may vary and can be shopped
  • There is no private mortgage insurance, but VA does charge an up front VA funding fee, which may be financed
  • Any VA service connect disability of any Percentage WAIVES the VA Funding Fee
  • Sseller concessions do not exceed 4%
  • The veteran is not allowed to pay for the wood destroying insect (termite) report
  • VA does not approve the majority of loans.  The majority of transactions are handled directly by the lender with little VA intervention.