VA loans are for qualified veterans (or those currently serving) and their families. With up to 100% financing available, no mortgage insurance (MI) and competitive rates, these loans are a great benefit for those who have served.
If you agree with ANY of the below, a VA loan may be best for you!
You've served in the armed forces.
You're looking for up to 100% financing.
You have okay credit that's at least 620.
You're looking to refinance your home.
This will be your primary home.
Download our free app, and know exactly how much a home could cost.
The information on this page is not meant to be a quote. So if you want an ACTUAL interest rate quote or if you're just curious what you may be eligible for, just ask us!
Annual Percentage Rate (APR) effective 9/15/17. Rates based on NFLP’s average customer FICOs for 2017. Rates may change or not be available at the time of lock. Not an offer to enter into an interest rate or discount point agreement. Any such agreement may only be made in writing by both the borrower and the lender. Network Funding, LP reserves the right to change or cancel this offer without notice. Subject to applicable laws and regulations. Monthly payment excludes mortgage insurance, homeowners insurance, property taxes and HOA.
For the information discussed on this page, we're assuming the following: $300,000 purchase. $300,000 loan amount. $1485 P&I. 4.125% (4.421% APR). 721 FICO.
The VA loan program is designed for your primary residence only. That being said, depending on your VA entitlement amount, you can possibly reuse your entitlement in the future on subsequent primary residence purchases. Selling your previous home will usually free up your eligibility for future purchases.
Putting money down on a home is completely up to the veteran. In most cases it will not improve the terms of the financing to put any/more down.
Unfortunately, no. VA loans are for primary residences only. That being said, if you were to move, you could keep your home and use it as a vacation home/investment property in the future. It would just affect your ability to continue to use your VA eligibility on future transactions.
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