August 13th, 2020 6:07 AM by Nathan Rufty
What is a VA Loan?
A VA loan is a $0 down payment mortgage option available to Veterans, Service Members, and select military spouses. VA home loans are issued by private lenders and guaranteed by the U.S. Department of Veterans Affairs (VA).
Today, the VA mortgage is more important than ever. In recent years, lenders nationwide have tightened their lending requirements in the wake of the housing market collapse, making the VA loan a lifeline for Veterans and active Military homebuyers, many of whom find difficulty when faced with tough credit standards and down payment requirements.
What are the Requirements for getting a VA Home Loan?
VA Jumbo Loans
If you are purchasing or refinancing a home and your loan amount will be above $484,350 then a VA Jumbo Loan might be just what you need.
VA Home Loan Funding Fees
The funding fee is typically 2.3 percent of the purchase price of the home. For subsequent use of your VA Loan benefit, the fee is 3.6 percent. VA borrowers can roll the funding fee into their overall loan amount.
Benefits of a VA Home Loan in Peoria, Arizona:
VA Home Loan Eligibility in Peoria, Arizona
To get qualified for Veterans Purchase Home Loan Program please contact Nathan Rufty at (623) 850-1210.