Remember VA does 100% with no PMI

By
Mortgage and Lending with Cherry Creek Mortgage

The Veterans Affairs Department guarantees no-down-payment mortgages for qualified veterans. Private lenders originate VA loans, which the VA guarantees. There is no mortgage insurance. The borrower pays a funding fee, which can be rolled into the loan amount.

The VA funding fee varies, depending on whether the veteran served in the regular military or in the Reserves or National Guard, and whether it's the veteran's first VA loan or a subsequent one. The funding fee can be as low as 2.15% or as high as 3.3%.

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Rainer
23,657
Glenn Colley
WR Starkey Mortgage - Carrollton, TX

VA is a great avenue to use....no down payment and no monthly mortgage insurance!

Sep 29, 2010 07:37 AM #1
Rainmaker
245,408
April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate

omg - what is that first comment??  Glad to see you post here again!

Sep 29, 2010 06:51 PM #2
Rainmaker
245,408
April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate

Hey Rick - We need an update on rates... how about a blog?  Hope to see you here soon.

Oct 19, 2010 05:26 AM #3
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Rainmaker
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Rick Kellow

FHA & Reverse Mortgage Expert
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