Veterans, remeber about VA loans

By
Real Estate Agent with Century 21 Zwygart Real Estate

When people start talking financing for a home purchase, some are amazed by the variety of loan products out there.  There are many types of home loans out there: conventional, 80/10, FHA, Rural Development, and much more. One type that we do not commonly see utilized is VA loans.

VA loans are available for Veterans of the US Service Branches. VA guaranteed loans are loans made by private lenders that are then guaranteed by the federal government in case of default.

VA loans offer several benefits for home buyers. They can often be made with no downpayment required. The interest rates are quite favorable. There is no private mortgage insurance required. The loans are assumable. Closing costs are often comparable to or lower than other types of loans.

Being a veteran does not guarantee that you will be able to obtain a home loan, though. The lender still will have credit and income requirements, and recent bankruptcies may disqualify you from obtaining a VA loan for a while.

A VA loan is a great option, so be sure to talk with your Realtor and your lender about them if you are a veteran. For additional information, please talk with your local VA office or visit the VA website.

Veterans, your service to our country is invaluable.  Let us say thank you with the favorable terms of a VA loan.

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Brenda Carus
Towne Square Realty
Certified EcoBroker, Re/Max Green Agent
Monroe Area Real Estate

Looking for a place to live a real life? Know your neighbors, eat local, abandon your commute, be part of a community - come to Green County. Whatever your preference is, we have it all from surprisingly urban to truly rural and everything in between.

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Tags:
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Rainmaker
1,921,168
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Brenda

VA loans are a great option for a individual that is a vet.

May 13, 2009 06:18 AM #1
Rainmaker
1,218,042
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Brenda--I agree with you about VA loans not being promoted enough.  My husband is a veteran and has used VA several times, however the VA funding fee is higher on second and subsequent uses. Thanks for getting the word out.

May 13, 2009 08:04 AM #2
Rainmaker
192,940
Scott Larson
First Weber Hedeman Group - Monroe, WI
SRES

Brenda,

 

Thanks for the nice post

May 13, 2009 09:59 AM #3
Rainer
120,567
Brenda Carus
Century 21 Zwygart Real Estate - Monroe, WI

Tom and Scott, thanks for stopping by.

Mary, there are some limitations on using the VA loans, and the funding issues are something to be aware of for veterans too.

May 14, 2009 03:18 AM #4
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Rainer
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Brenda Carus

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