Benefits of a VA Home Loan - Valoanspecialist.com

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NMLS #70358

VA Purchase - VA Refinance - Zero Down VA Loans - VA Streamline - VA Disability - VA Real Estate

Tax credit extended for any Veteran that served outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. Zero down, Seller can pay all closing cost, and you can get $8000 call ASAP to see if you qualify.

There are millions of Americans, who have served this county faithfully that qualify for a VA home loan, however many veterans are not aware that they qualify for these Veterans benefits. If you have ever been on active duty for at least 90 days then you may be qualified. Other Veterans are qualified, through the National Guard or Reserves with 6 years of service. There is no limit to the number of VA loans you can have, but you can only have one VA loan outstanding at a time.

The VA has recently increased their loan limits to $417,000 with a $0 down payment. The VA also allows the seller to pay all of your closing costs to include some personal debt. One of the biggest benefits of a VA loan currently, is the rates are typically ¼ less than the standard type conventional loan. It is to your advantage to use a VA loan even if you want to put money down. Veterans with 10% or more service connected disability can also take advantage of not having to pay any VA fees on their loan which may save thousands of dollars.

The majority of banks will often try to talk you, the veteran, out of doing a VA loan because of the perceived difficulty and the perceived extra paper work, both a misconception. They might try to put veterans into one loan at 100% or with a first and second called an 80/20 loan. But in all actuality with experienced professionals VA loans for the Veteran are made easy. The VA is very tolerant to credit issues, bankruptcies, and/or foreclosures comparable to most conventional loans. Usually the banks are not looking out for what is best for you but what is best for them.

The VA also offers a couple of different types of refinances. One on an existing VA loan called a “Streamline Refinance”. This type of refinance takes your current interest rate and lowers it (if available) with no out of pocket expense. The other type of VA refinance allows you to take up to 90% of what your house is worth to pay off your current loan, debts and receive the remainder in cash.

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