VA Home Loan Advantages

VA Home Loan Advantages

published on August 29, 2017 by Aidel and Yolanda Rivera

VA can help you purchase a home at a competitive interest rate, even if you have found it difficult to find other
financing.

You must have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE) to be
eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy. 

The guarantee VA provides to lenders allows them to provide you with more favorable terms,
including:


? No down payment as long as the sales price doesn't exceed the appraised value.
? No private mortgage insurance premium requirement.
? VA rules limit the amount you can be charged for closing costs.
? Closing costs may be paid by the seller.
? The lender can't charge you a penalty fee if you pay the loan off early.
? VA may be able to provide you some assistance if you run into difficulty making payments.

Helpful to know:
? You don't have to be a first-time home buyer.
? You can reuse the benefit.
? VA-backed loans are assumable, as long as the person assuming the loan qualifies.

As professional realtors, we have an opportunity to provide our clients with information that could help them wise decisions now and avoid mortgage delinquencies down the road. Remind them that they if their Permanent Station changes and they must move, they may not have enough equity on the home to sell. It's our privilege, to counsel, advice and maintain contact so we can best serve those who sacrifice much for our country. 

As a Veteran, we want to bring our A game when it comes to helping our serviceman get every benefit they are entitled to.  Call The Rivera Team today.  706-394-4550

 

All information found in this blog post is deemed reliable but not guaranteed. Real estate listing data is provided by the listing agent of the property and is not controlled by the owner or developer of this website. Any information found here should be cross referenced with the local county and state organizations.