VA Loans
A VA Loan is one of the only loan programs that still allows the borrower to finance 100% of the home's value and purchase with $0 down. Now more than ever banks are requiring large down payments for conventional loans. In many cases they require 10-20% down, putting home ownership out of reach for many prospective buyers.
How much will $0 down save you? Conventional loans will require a minimum of 5% down, and in many cases as much as 10% and 20%.
A VA Loan offers two benefits that will substantially lower your monthly payment. PMI, or private mortgage insurance is not required on a VA loan. PMI is an added monthly expense required for conventional loans where the borrower finances more than 80% of the home's value.
The qualification guidelines are less stringent for VA Loans. Because the loan is backed by the government, banks have relaxed the often strict lending rules for VA Loan applicants making them easier to obtain.
To see if you qualify for a VA loan contact us for a free consultation.
Programs
- FHA 203K and FHA 203K Streamline Renovation Loan
- Fannie Mae Homestyle Renovation Loan
- USDA Loan
- VA Loan
- CHFA
- HUD’s Good Neighbor Next Door Program
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I am excited that you are visiting my site. 95% of my clients that use a renovation loan walk away from the transaction with instant equity. |
| I would love to help you learn more about the renovation and construction loan process! | |