Are you a veteran??

By
Mortgage and Lending with Paramount Residential Mortgage Group, Inc NMLS# 262906

Are you sitting down?? The government has actually gotten something right for once!!

For any veteran that is in the market to purchase a home know this - A government backed VA loan is superior to any loan product available today.

VA loans are the absolute best way to go in today's mortgage environment.

Some benefits: 

  • No down payment
  • No monthly mortgage insurance
  • The seller can usually pay all of your closing costs
  • Loan amounts up to $417,000 (higher in some cases)
  • No min/max income requirements to qualify
  • Flexible debt-to-income ratios (Up to 60% w/ good credit)
  • Credit scores as low as 580 allowed 

In the past VA loans were more difficult to originate than conventional loans: more paperwork, inspections, hoops to jump through, etc. Recently however, guidelines/requirements have been modified & the process is quite easy, especially if the mortgage broker is familiar with the process - Our VA loans go as smoothly & close as quickly as a conventional loan.

As a mortgage broker or realtor you should be asking all your buyers if they are VA eligible...you'd be surprised at how many veterans there are out there!

Comments (3)

Kenneth Cole
Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY
NYS Licensed Real Estate Salesperson

And did you know that even Vets like me, honorably discharged over 40 years ago, never used it and it's still GOOD.

Apr 17, 2009 02:50 AM
Matthew Rosov
Amerisave Mortgage Corporation - Laurel, MD
Certified Mortgage Planning Specialist

and even if you have used it once, paid it off or sold the home, you are eligible for another one!!!

Apr 17, 2009 02:57 AM
Dan Magstadt
Paramount Residential Mortgage Group, Inc - Lake City, FL

Good points guys - Thanks for the contributions!

Apr 17, 2009 02:58 AM