VA Home Loan Benefits

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Information about VA Home Loan Benefits

Published on February 18, 2014

Author: creativeart14



VA Home Loan Programs are available to service members, veterans and surviving spouses. They are the only truly $0 home loans available in todays market. The home loans will help qualified borrowers to purchase a property with less money down than would be required in a conventional home loan.

Served Your Country? Yes? Buy A Home With $0 Down - Really!

US Department of Veterans Affairs Guarantees Home Loans  Home Loans provided by Lenders  VA guarantees portion or all of loan amount  Amount guaranteed per VA Housing Loan Limits per County published annually  Depending on purchase price, zero down-payment may be required.

How Do Loan Limits Work?  An Example…..  VA Loan Limit for Orange County, CA is $687,500  If purchase price < $687,500 – Zero Down  If purchase price > $687,500 –  Say purchase price is $787,500 then…..  $787,500-$687,500=$100,000x20%=$20,000 Down-payment required.

Comparison….. VA Loan  Purchase Price $787,500, info as previous slide  Down Payment required is $20,000 Conventional Loan  Purchase Price $787,500, info as previous slide  Down Payment required 20%x$787,500= $157,500

Buy a home with little or no money down…..

Other Benefits…..  No Private Mortgage Insurance (PMI) required – further savings in monthly payments  Interest Rates on VA Home Loans are usually lower  More flexibility for qualification – on credit scores and income requirements

VA Home Loans are only available to….. • • •

For more information and to apply for a home loan please contact us….. Tel: (949) 313-7333 NMLS: 1089702 CA DRE: 01769504 California Mortgage Specialists

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