The Veteran's Benefits Administration offers eligible veterans and active duty personnel a superior home loan product. VA loans do not require a down payment or a monthly mortgage insurance premium. The rates for VA loans are often lower than standard conventional loans!
In order to provide these excellent loan terms, the VA does charge a funding fee. The fee, which ranges from 1.5% to 3.5% of the total sales price, can be paid over the life of the loan to avoid an upfront expenditure.
If you are eligible for a VA loan, you will be hard pressed to find a better product - it's that simple. Just make sure you have your paperwork in order. You will need a copy of your DD-214. If you cannot locate your certificate of eligibility, your loan officer should be able to help you request it from the VA.
Contact me anytime for a VA Loan Consultation.
