Home Purchase Archive

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VA Loan Closing Costs: An Added Benefit

Housing finance options and information

Grant Moon

Besides the advantage of requiring no down payment for qualified VA borrowers, there's also a distinct advantage for the borrower regarding closing costs. The veteran is limited to the types of closing costs that may be paid, helping the veteran save money at the closing table. But if there are costs associated with a VA mortgage and the veteran isn't allowed to pay for them, who does? The Types A common way to remember which costs a veteran... more

Top 3 VA Home Loan Tips

Military.com

There are numerous advantages to having a VA mortgage. A VA mortgage loan can be guaranteed with no money down, in some cases up to $417,000. There is also no private mortgage insurance requirement with a VA guaranteed loan, which could offer you substantial savings on your monthly payment.  You can even use your VA Loan benefit to refinance an existing loan -- even if it is not a VA Loan. Be sure to ask for information about the interest rat... more

Vets May Borrow More Than $1 Million

Higher limits for the VA Loan

Military.com

Updated for 2014 The VA loan guaranty program does not impose a maximum amount that an eligible veteran may borrow using a VA loan but limits the maximum guaranty amount to $417,000 for 2014. However, if you live in one the following counties listed below, follow the data on the chart to determine to calculate the VA's maximum guaranty amount for a particular county. These limits apply to all loans closed January 1, 2014 and afterwards. Lear... more

VA Home Loan: Do You Have What it Takes?

Housing finance options and information

Military.com

See how easy it is to determine your eligibility! Use our free calculator today! (Opens a pop-up window) In order to obtain a VA home loan, you must first fill out VA Form 26-1880, the request for your Certificate of Eligibility. This certificate is issued only through the Veterans Administration, and is the first step towards applying for your loan. Veterans, active duty, guard or reserve, and military spouses potentially qualify for t... more

Get the FAQs on VA Home Loans

house for sale sign

Military.com

Why get a VA loan over other types? Simply put, a VA Home Loan allows qualified buyers the opportunity to purchase a home with no down payment. There are also no monthly mortgage insurance premiums to pay, limitations on buyer's closing costs, and an appraisal that informs the buyer of the property value.  For most loans on new houses, construction is inspected at appropriate stages and a 1-year warranty is required from the builder. VA also... more

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