va loan: 9 Myths About VA Loans
- 06/13/18 11:46 AM
Myth #1: Borrowing Value Is Capped Unlike many other loans, the Veterans Affairs home loan program does not cap the loan-to-value ratio, or LTV, of a mortgage. In other words, your loan can be up to 100% of the home’s value. So, if you qualify for the program and you are looking at a $150,000 home, you may be financed for up to $150,000.
Other programs limit the LTV, generally to around 80% to 90% of the purchase price. This means you’d be required to put money down, like with an FHA loan that requires a minimum of 3.5% down (a LTV of … (1 comments)
With Interest Rates still relatively low, most people just go with the first loan they get approved for without exercising all of their loan options. FHA, Conventional, USDA, they are all loans that people hear about all the time but, for Service Members and Veterans, the VA Loan is the best option. With so many service members enlisting in the military in the past decade and the housing crises slowly "normalizing", now is the best time to use your VA Loan. Interest rates are rising and a home, whether as an investment or a first-time buy, is only going to get more … (2 comments)
Myth #1: Borrowing Value Is Capped
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