Veterans, current members of the military and their spouses are eligible!
Military Veterans and Active Personnel are able to take advantage of special mortgage program, most commonly called “VA Loans.” These mortgages are only offered to current/active and ex military personnel, that is the primary requirement.
The Veteran’s Administration (VA) is a government agency that helps provide home loans for veterans of the military and their spouses. These loans are designed to help those citizens who have served our country; providing additional benefits to help them obtain affordable housing. VA loans are eligible to veterans and their spouses who have retained their VA eligibility benefits for both new home purchases and refinances. In both instances, more relaxed credit requirements are available along with lower down payment requirements on purchases and less home equity required for refinances.
Some of the advantages of a VA Home Loan are:
The buyer can purchase a home for up to $417,000 with no down payment.
VA loans do not require the buyer to have mortgage insurance.
If the buyer has less than perfect credit they are likely to get a lower rate compared to a conventional loan.
VA loans are assumable.
There is no prepayment penalty on VA loans.
With a VA loan the seller is allowed to pay all of the buyers closing costs up to 6% of the loan amount.
If you are a part of the Military, call us to discuss your options. Call us at 724-776-4100, and be sure to mention your wan to discuss VA loan opportunities!
Veterans, current members of the military and their spouses are eligible!
