VA Home Loan Makes Home Buyers

A VA Home Loan is one of the best loan options for home buyers, especially those that have not purchased before. 

If you were waiting to buy a home because you were having trouble saving money, the VA Home Loan has a solution.  They still offer a $0 Down Payment home loan.

How do they do $0 down home loans

This year the VA Home Loan program will receive $6 Billion in funding. This funding creates one of the only options left for a $0 down payment home loan, which is why each month, thousands of families take advantage of their VA Home Loan Benefits.

Since the government subsidizes your home loan, it provides a variety of benefits such as:

• Eliminate Mortgage Insurance
• Purchase with $0 Down
• $8,000 Tax Credit for First Time Buyers
• Lower Monthly Payments and Sometimes Lower Interest Rates
• Easier Qualification Standards
   

Why Does VA Home Loan have lower payments?

When we calculate the monthly cost of a VA loan and compare it to our FHA loan there is a large benefit for veterans.  FHA Home Loans require payments of as much as .55% per year and those payments must be included with the monthly payment for five years.  For example, for a $100,000 loan, a buyer would be charged an additional $550 per year.  With the VA Home Loan, the monthly fee is $0.  That saves Veterans $2750!

First Time Buyers Get an $8000 Tax Credit until June 30, 2010

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first time buyers who purchase a home in 2009. A VA Loan Specialist from our office will be able to help you determine your eligibility for this tax credit.

The advantages are real. A lower monthly payment, easier qualification guidelines and the ability to purchase with $0 down make a VA Loan the best option for first time home buyers that qualify.