VA HOME LOANS IN MONUMENT, COLORADO, provide an excellent way for military families, both active duty and retirees, to purchase their family home with little or nothing out of pocket. VA HOME LOANS IN MONUMENT, COLORADO, are utilized extensively by military families who are on active duty at one of the military bases located within the Colorado Springs area. Due to the number of Military who have served at one of the bases here throughout the years, we also have a large number of folks who decide to retire here to enjoy the pleasant weather, lack of humidity, and numerous activities available for family members of all ages.
THE VA HOME LOANS IN MONUMENT, COLORADO, are a true "nothing down" type of financing.
This is one of the big appeals to a family who is on a tight budget, or just wants to put extra dollars into home
remodeling, children's college funds, or retirement funds. In fact, a seller is allowed to pay part or all of a
Veteran's closing costs and prepaid expenses to facilitate the sale of their home.
One interesting and often misunderstood facet of VA HOME LOANS IN MONUMENT, COLORADO, is that a veteran may use his VA entitlement more than once during his lifetime. To do this the previous loan must be paid in full upon sale of the home. A second method is for the purchasing Veteran to ASSUME the current loan on the property to maintain a good interest rate for example. He would then qualify for that loan and substitute his entitlement for the current VA loan. This releases the Veteran homeowner to be able to use his entitlement again for the purchase of his next home.
You can see how flexible the VA HOME LOAN PROGRAM IN MONUMENT IS FOR THOSE WHO HAVE SERVED IN THE MILITARY. Don't let this opportunity pass you by. The rates on VA HOME LOANS IN MONUMENT, COLORADO, are low and the costs can be minimal. Check on your qualification status, and own your own home in no time at all.
VA Home Loans, Santa Rosa, CA - Top 10 VA Home Loan Benefits for Sonoma County Home Purchases
One of my fondest memories comes from growing up in Santa Rosa where my father purchased his first family home using the VA home loan program. As a Veteran who served two terms in the Navy during the Vietnam war, my dad deserved all of the benefits the Department of Veterans Affairs has to offer. One of them was the Va Home Loan Guaranty. With his DD214 in hand, my father was able to by our family home with no money down and with little closing costs. If it wasn't for this program, we probable would have lived in a tiny apartment somewhere until my parents could save up enough money to buy a home. Well, as a way to give back, I learned to originate VA home loans once I became a mortgage loan officer in the early 90's. Unfortunately, the real estate market values in Sonoma County and everywhere else grew so rapidly that the VA home loan became obsolete. The Department of Veterans Affairs couldn't guarantee the increasing loan amounts that were in demand until a few years ago. It wasn't until 2007 when the government authorized higher loan limits for VA Home loans to help revise the declining housing market.
I know there are a ton of resources out there about VA loans, but I thought I would create a short and sweet list of all the benefits the VA home loan has to offer for my team of Realtors in Santa Rosa and Sonoma County. So, here's the list that I think should make up the Top 10 VA Home Loan Benefits:
- VA Home Loans require no money down
- VA Home Loans Limit the Closing Costs allowed to charged against the qualified VA Home Loan buyer
- VA Home Loans will finance the funding fee. It can also be reduced if VA buyer puts 5% down
- VA Home Loans have no prepayment penalties. The VA buyer can pay the loan off early without incurring additional fees.
- VA Home Loans allow less than perfect credit to be used for qualifying.
- VA Home Loans have no Monthly Mi. Other loans require a monthly mortgage insurance payment if you put less than 20% down.
- VA Home Loans qualify the buyer by using one debt to income figure. I've seen loans with a 48 to 52% DTI get qualified.
- VA Home Loans are assumable with VA's permission, but seller loses the ability to buy another home until the loan is paid off.
- VA Home Loans required an inspection to protect the Veteran Home buyer from any potential harm.
- The Department of Veterans Affairs raised the maximum loan limits to match the demands of the Nation.
Here are the numbers for my area:
2009 VA Loan Limits for Northern California
County- VA Loan Limit
- ALAMEDA $1,094,625.00
- CONTRA COSTA $1,094,625.00
- MARIN $1,094,625.00
- MONTEREY $525,000.00
- NAPA $643,750.00
- SACRAMENTO $516,250.00
- SAN FRANCISCO $1,094,625.00
- SOLANO $435,000.00
- SONOMA $566,250.00BTW- If you want to know more about loan programs and some of the finer details that go along with them, read my last blog on FHA and VA loans. Or if you'd like to learn more about Sonoma County, read my Top Ten Secrets Blog. Thanks for dropping by! I hope this list was helpful!
***********************************************************************Anthony Ebright is a Sales Manager, Home Mortgage Consultant and FHA and VA Home Lender in Santa Rosa, California. You can reach Anthony Ebright at 707-548-0752 if you need help refinancing or purchasing your home in Sonoma County, Santa Rosa, Healdsburg, Petaluma, Rohnert Park, Sebastopol, Bodega Bay, Windsor, Cloverdale, Guerneville, Sonoma, or any of the neighboring metropolitan areas. Website: www.anthonyebright.com.Copyright 2009. © Anthony Ebright. All rights Reserved.
Anthony Ebright is a Sales Manager and Home Mortgage Consultant for Wells Fargo Home Mortgage in Santa Rosa, California. His opinions and statements are his own. Wells Fargo does not endorse any comments made by its employees on this blog. All statements and viewpoints expressed in the comments are strictly those of the commenter alone, and do not constitute an official position of Wells Fargo. Wells Fargo does not validate any assertions or forward-looking statements in the comments.