WHY SHOULD I USE MY VA HOME LOAN?
Benefits of a VA Home Loan
There are many advantages to choosing a VA Loan instead of a conventional loan. The following are just a few of the many benefits of purchasing your home with a VA Home Loan:
- No down payment required
- No mortgage insurance required
- Easier qualification standards
- Less strict credit and income standards
- No prepayment penalties
Our experience and expertise allow us to provide you with all of the help and information you need during the home buying process.
Benefits of VA Home Loans
The VA Loans are an incredible benefit for those who have served our country. The VA allows the borrower financing at 100% of the purchase price of the home and allows the seller to pay all of the buyer's closing costs. When compared with conventional loans, a VA Home Loan can save borrowers several hundred dollars a month.
The most important benefit cited by Veterans who have used a VA Loan is that there are no down payment requirements. What's more, VA Home Loans generally offer low interest rates and have the added benefit of no mortgage insurance. There are additional benefits offered to disabled Veterans taking out a VA Home Loan
Our goal at California Real Estate & Mortgage is to educate each client and work diligently to take the stress out of the home buying process. We are truly honored to serve those who have served us.
Unlike most conventional loans, poor credit will not exclude you from qualifying for a VA Home Loan. Although your credit history is a factor, it is not the only thing used to determine if you qualify for a VA Mortgage.
VA Mortgage Benefits Chart
Check out the benefits available to home buyers who purchase their home with a VA Loan as compared to a conventional loans.
What Will You Need to Get a VA Loan?
A Certificate of Eligibility is needed to qualify. Whether you are a first-time user or you have had a VA Loan in the past, you must have a Certificate of Eligibility.
If you have a Certificate of Eligibility, you can pre-qualify now for a VA Home Loan up to $729,000.
Are There Any Fees for a VA Mortgage Loan?
The Department of Veterans Affairs requires a funding fee, which varies from 0 to 3.3% of the loan amount, depending on your current Veteran status. The funding fee is added into the total loan amount, so the borrower is not required to pay out of pocket. To determine the exact funding fee, see the funding fee chart. Because of the funding fee, VA Loans do not require monthly mortgage insurance, keeping your monthly payment lower.
Veterans who qualify as 10% disabled or greater as a result of active Military service are not required to pay a funding fee. Those who are not exempt from a funding fee may lower their fee by choosing to make a down payment.
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California Real Estate & Mortgage, LLC.
4370 La Jolla Village Drive, Suite 400
San Diego, CA 92122
Main: 866.538.6057
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