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  • Veterans Affairs

    • The best mortgage program on the market today is the one offered through the VA (Veteran Affairs).It is by far the most advantageous mortgage program available to buyers.

      The benefits are enormous and at the same time we reward our service men and women, helping them achieve their dreams of home ownership.

    • Benefits

      The only program on the market which does not require a down payment of any kind is the VA mortgage program (USDA has 0 down but only in limited parts of the country that are rural).

      100% financing is available to any veteran up to the allowable loan limit for that specific county in accordance with Fannie Mae rules.

      For example; in Orange County, CA the loan limit is $636,150; therefore a veteran can utilize his/her eligibility and purchase a property up to $636,150 with 0% down payment.

      The ability to not have to put any money down is a huge incentive for veterans when looking to purchase a home. This is unlike any other mortgage available today.

      This main feature of the VA mortgage program lifts the main barrier to homeownership entry for people, a large down payment.

      Furthermore, the VA mortgage program does not carry any PMI (private mortgage insurance) which is usually associated with loans where a minimum of 20% down payment must be met.

      Both conventional and FHA loans carry PMI (private mortgage insurance); however, even with 0 down payment the VA does not have this private mortgage insurance requirement.

      This is a huge monthly savings for veterans and once again removes a potential costly barrier to entry for prospective home buyers. Low rates and ability to get closing cost assistance are the two last features of the VA mortgage loan program which help differentiate between other programs.

      The VA rates are usually one half (0.5) percent lower than conventional rates. This lower rate will help the veteran qualify for more house and have a lower payment than someone that is simply getting a conventional loan.

      Also, lender credit can be issued to help pay for closing costs. Often times closing costs can be very expensive, ranging from five to fifteen thousand dollars depending on the transaction; and this credit issued by the lender can cover some or all of those costs.

      Essentially the veteran can walk through the front door after closing with nothing out of pocket. Zero down and no closing costs are available for veterans to help them attain their dream of home ownership.

    • Conclusion

      The VA mortgage program is vastly superior to any other mortgage in the marketplace. Zero down, no closing costs, no PMI and low rates are the pillars of the program.

      Veterans who have served our country are getting their due through this program and rightfully so!