Home > Blogs > Hrisco & Associates > Real Estate Expert Advisors | Serving Greater Southern Denton & Northeast Tarrant Counties

Imagine What a VA Home Loan Could Do For You

Reblogger Hrisco & Associates

Real Estate Agent with Hrisco & Associates Lic.#480703

July 01, 2011 10:49 AM

To all my blog readers and subscribers, I always try to bring to you things of value and substance whether or not it came from me or another colleague in the real estate industry.

This is yet another one of those instances, Rebekah Radice, a mortgage loan originator with Benchmark Mortgage and a colleague of mine out of Colorado Springs, CO has some great and practical advise that I think anyone who owns a home and is considering selling your home or a prospective home buyer would benefit from.

This information is especially worth sharing with all Dallas/Fort Worth, TX Veterans, Active Duty, Guard and Reservists who are considering purchasing a home.

All current and former military personnel who want to purchase a home should consider VA Financing. Because my wife is in the United States Air Force, I have experience working with Veterans of all types here in the Metroplex. I can walk you through the tedious process of purchasing your home successfully. We work with local lenders who will explain all the ins and outs of VA Financing to Northeast Tarrant County Home Buyers.

To your success,

John Hrisco of John Hrisco and Associates

PLEASE NOTE this is a National Program, not just a Colorado program.

p.s. if you feel like making a comment here for the reblog, thank you, but please visit Rebekah's original blog post via the link below and tell her what a great job she did on the information provided.

If you are a veteran in Colorado Springs, purchasing a home and utilizing your VA home loan benefits is easier than you think. There are so many advantages that come with a VA Loan; it’s easy to see why so many Colorado veterans choose this loan over a FHA or Conventional Mortgage. Check out the amazing opportunity you have with a VA Home Loan:

NO Down Payment

VA Home Loans are one of the last remaining ZERO down payment loans. When you couple this with the fact that a seller can pay all the reasonable and customary closing costs, you have the opportunity to step into a home with little to no money out-of-pocket.

Low Rates Equal Lower Monthly Payments

Interest rates are also lower with a VA Loan and can be anywhere from 0.5%-1.0% lower than a conventional loan. A lower rate combined with monthly mortgage insurance or PMI savings can substantially lower your monthly payment.

NO Mortgage Insurance

PMI, or private mortgage insurance, is not necessary on a VA loan unlike the requirements for Conventional and FHA loans. Conventional and FHA loan programs can carry hefty monthly mortgage insurance premiums that could add hundreds of extra dollars to your monthly payment.

Easier Qualifications

Because a VA loan is backed by the government, banks have relaxed the often strict lending rules you see with other types of loans. A VA mortgage is easier for VA loan applicants to obtain.

VA Mortgage Benefits:

VA guidelines do not put an unusual amount of importance on credit scores, but will require that your most recent 12 month credit history be free of late payments, collections or judgments.

Less reserves required (meaning how much money you have left in your bank account after closing) and

Lower credit score requirements – most lenders are looking for a minimum 620 credit score.

NO Prepayment Penalty

Several years ago, it wasn’t unusual for a Conventional loan to carry a hefty prepayment penalty. The cost to pay off your loan prior to the expiration of the prepayment penalty could cost hundreds if not thousands of dollars. The VA does not allow for a prepayment penalty which allows you to pay your loan off at any time.

PreQualify for a VA Loan in Colorado Springs

Whether you have used your VA eligibility previously or are using your VA benefits for the first time, we would love to help you understand the unique advantages of a VA Home Loan. Start using your VA Benefits and be on your way to owning your new home by Pre-qualifying for a VA Loan Today.

Imagine What a VA Home Loan Could Do For You was written by Rebekah Radice.

Rebekah's Mortgage Grapevine (unashamed plug) provides insight, education and musings on anything from mortgage lending and real estate, to social media, marketing and all things relevant to your everday success! If you want to learn lots of cool things, have your thoughts provoked, AND be entertained, be sure to hit the SUBSCRIBE button to the right!

Rebekah Radice | Mortgage Loan Originator

Want to know more about me? Just Google Me!

T: 719.387.1368 | Email: rebekah@rebekahradice.com | Website: http://rebekahradice.com |CO & NMLS Licensee: LMB100010938 & 288596 | Benchmark Mortgage dba Ark-La-Tek Financial Services, LLC | 12 E. Kiowa |Colorado Springs, CO 80903

FREE Marketing, Sales & Success Strategies for Colorado Real Estate Agents:

Find Me Online!

Recent Articles from Rebekah's Blog

6 Ways to Drive Traffic to Your Website or Blog

How to Use LinkedIn to Generate Real Estate Business

What Happened to My Loan Approval

Top 5 Reasons You Should Blog on Active Rain

Comments(15)

Comment

Show All Comments

Sort:

Marilyn Boudreaux

Marilyn Boudreaux, Century 21 Bono Realty - Lake Charles, LA

Lake Charles LA Century 21 Realtor

VA offers vets a great option with 0 money down, I have a home under contract and the buyers are using USAA for their VA loan. I appreciate all the vets and your wife's service

Jul 01, 2011 03:40 PM

Maggie McFarland

RE/MAX Pearland - Maggie McFarland - Pearland, TX

Pearland Realtor, Homes for Sale in Pearland Texas

VA loans are a great opportunity for our former and current military! Thanks for encouraging VA loans to those who you know qualify!

Jul 01, 2011 04:24 PM

Hrisco & Associates

Hrisco & Associates - Roanoke, TX

Roanoke Homes for Sale - Roanoke Neighborhoods

Hi Marilyn, thank you kindly for your comments, one word of caution, I would double check if you havn't already on the status of the loan with USAA. My last closing was with a reservist that has worked with my wife before and she originally was doing her VA Loan though USAA, but a couple of weeks prior to closing, after they had told us a couple of months before that she was pre-approved, they denied her loan and we had to scramble to get it done. I ended up hooking her up with Benchmark Mtg whom advised both of us that about a year and half ago, USAA started outsourcing their mortgages and they have ran into multiple issues since then. She mentioned that she had several clients in about a 6 month time frame that came from USAA with the same issues, but she was able to get them done. Best of luck to you on that one.

Jul 02, 2011 04:28 PM

Hrisco & Associates

Hrisco & Associates - Roanoke, TX

Roanoke Homes for Sale - Roanoke Neighborhoods

Hi Maggie, thank you for your comments, and it is important to get the word out to our military personnel because a lot of them do not always know what is available.

Jul 02, 2011 04:30 PM

Barbara Hensley

RE/MAX Properties - Rockwall, TX

Homes for Sale in Rockwall County, Texas

John - Good morning, Happy Holiday, and THANK YOU for letting me know this morning that I won one of the ActiveRain tumblers....you did not say that you also won one....CONGRATULATIONS! East side - west side, between the two of us we have it covered!

This is an excellent post, well written and full of all the necessary information to do a VA loan - good job!

Jul 03, 2011 01:27 AM

Hrisco & Associates

Hrisco & Associates - Roanoke, TX

Roanoke Homes for Sale - Roanoke Neighborhoods

Hi Barbara, you know how it is, didn't want to toot my own horn, but thank you.....you betcha, east/west! I have found several well written posts on Rebekah blog lately...Happy 4th.

Jul 04, 2011 03:14 PM

Kristine Ginsberg

Elite Staging and Redesign, LLC - Short Hills, NJ

NJ Home Stager

Great reblog John by Rebekah and I'll have to stop by and tell her so! Hope you had a wonderful 4th of July!

Jul 05, 2011 01:06 AM

Rebekah Radice

Imagine WOW! Digital Marketing Agency - Burbank, CA

Social Media Marketing, Coaching & Training

Thank you for the reblog John! I hope you and your family had a great 4th of July weekend!

Jul 05, 2011 02:20 AM

Hrisco & Associates

Hrisco & Associates - Roanoke, TX

Roanoke Homes for Sale - Roanoke Neighborhoods

Hi Kristine, thank you, yes it was a hot one....hope you had it a little cooler than we did.

Hi Rebekah, your welcome, thank you for the great post....it was a hot one indeed...I hope it was a little cooler in CO!

Jul 05, 2011 08:19 AM

Roy Kelley

Retired - Gaithersburg, MD

Very good information for VA qualified home buyers. It is a great program. The VA REO properties also offer some interesting opportunities.

Blooming for you!

Jul 05, 2011 10:02 AM

Hrisco & Associates

Hrisco & Associates - Roanoke, TX

Roanoke Homes for Sale - Roanoke Neighborhoods

Hi Roy, thanks for stopping by, be sure to stop by Rebekah's blog too, thanks for the tip on VA REOs, will have to look into.

Jul 05, 2011 10:17 AM

1~Judi Barrett

Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK

BS Ed, Integrity Real Estate Services -IDABEL OK

VA loans have gotten more popular here than ever. This list contains the reasons why this is happening. Nicely done.

Jul 06, 2011 04:10 PM

Hrisco & Associates

Hrisco & Associates - Roanoke, TX

Roanoke Homes for Sale - Roanoke Neighborhoods

Hi Judy, your welcome on the reblog, Rebekah laid it out very nicely. With the number of Veterans in our area too, they are becoming more popular.

Jul 06, 2011 04:16 PM

Gayle Rich-Boxman Fishhawk Lake Real Estate

John L Scott Market Center - Birkenfeld, OR

"Your Local Expert!" 503-739-3843

John, I just read another good blog post of Rebekah's that I bookmarked on the FHA 203k loan. I do talk about VA loans with people and have utilized it twice for first-time homebuyers, both of whom were very excited to have this option for purchasing. It sure is a great way to say thank you to our troops.

And you have a nice personal reason to "push" it! Because you have a story that means something to yourself and therefore others.

Jul 06, 2011 06:21 PM

Hrisco & Associates

Hrisco & Associates - Roanoke, TX

Roanoke Homes for Sale - Roanoke Neighborhoods

Hi Gayle, thank you for the heads up on the new post from Rebekah, she must have posted it after I reviewed her blog earlier....I just came across her blog in the past week or so, but she is an excellent writer....good information. Absolutely, with the military connection and all.

Jul 06, 2011 07:41 PM