va loan: A Mortgage Loan Designed For Veterans
- 02/11/11 01:26 AM
VA Mortgage The VA Mortgage is designed to offer long-term financing to American veterans, VA Mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans. Here are the basics of the program: 100% financing without private mortgage insurance or 20% second mortgage. A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA. (1 comments)
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