veteransdayquotes.com
Today is Veterans Day. Around the country federal and state offices are closed as are banks, the mail service and other offices to honor those who served and sacrificed for the ideals set out by the Declaration of Independence and the US Constitution. An important aspect of remembering our Veterans and their service is to ensure they have access to the services they so richly deserve that are available to them. Availability of information is key, so to those ends the subject of today's blog is the VA loan.
I have written on the topic of VA loans before but it never hurts to reiterate that this is a great mortgage for a veteran. There is a lot of misinformation floating around out there - - that the loan is hard to close, or that the property condition stipulations are rigid, or that the interest rate is high. None of these things is true. I have often met with Veterans and compared the VA loan side by side with the conventional loan that was offered them by a competing lender and every time, the Vet has chosen the VA product.
Here are the features of this loan:
100% financing -- no down payment
Veterans, Reservists, and National Guard personnel are eligible (there are time of service guidelines on each type of military service)
No monthly mortgage insurance is charged
Interest rates run roughly .25% lower than conventional mortgage rates
30 year fixed 15 year fixed rates available
Repeat use of eligibility is allowed
It is possible in certain circumstances to own two VA financed homes at the same time
Between the several VA investors we work with we can assist veterans with credit scores from 580 on up.
Don't let anyone tell you that the VA loan isn't the best mortgage for a veteran. Check it out for yourself and see if you agree!
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