A VA home loan is great for first-time buyers or folks looking to move up. An eligible borrower can use their VA eligibility multiple times so if you”ve used your VA eligibility in the past, you can use it again now. No down payment is required and VA has extremely competitive interest rate. Since the loan is backed by the Veternas Administration, there is no private mortgage insurance resulting in substantial monthly savings. In combination with the MCC Tax credit, you can enjoy one of the most aggressive and competitive loan programs in the country.
BENEFITS OF A VA HOME LOAN
Zero Down/100% financing
No Monthly Mortgage Insurance
Extremely competitive interest rate
30 or 15 year fixed loan
One time VA funding fee that can be included in the loan
Veterans receiving VA disability are exempt from the VA funding fee
VA staff dedicated to assisting Veterans who are delinquent on their loan
Easy to qualify
Backed by the Veterans Administration
Helpful Links Related to VA Loans
MCC Tax Credit: Tax credit that can be added to a VA home loan.
TSAHC: 30 year fixedme loan can also be used along with a free grant to help with closing costs.
VA Home loan Manual
VA Underwriting Guidelines