9 Benefits of the VA Mortgage

Mortgage and Lending with www.DaveYourMortgageGuy.com - Legend Lending NMLS #293883

One of the greatest benefits to being a Veteran is the VA Mortgage.  Whether you are buying a home or refinancing that home, you can not beat a VA Loan.  Here are 9 benefits to them:


1.      0% Down Payment- When you purchase a home with your VA loan benefits you can purchase it with No Down Payment.  Unlike a FHA loan or Conventional, that do require a down payment of at least 3.5% or more

2.      No Monthly Mortgage Insurance- VA Loans do not require monthly mortgage insurance.  Giving you a great low payment.

3.      Fess the Seller Must Pay- When a Veteran buys a home, there are fees that the Seller must pay.  This helps reduce the money you will need for closing.

4.      Your Loan is Assumable-  A Major benefit that you do not hear much about now a days is that  VA Loans are assumable.   This means you could eventually sell your home to another Veteran and he could take over your mortgage.   Mortgage Rates will never be this low again, so I believe there will be some value when you go to sell your home.  As an Example, your home  has a mortgage assumable at an interest rate of 4% vs your neighbor’s home is being sold and their buyers would need to get a new mortgage at the market rate of 5.5%.  I believe this will help you in getting the best price possible for your home in the future. 

5.      620 Credit Score- You can get approved for a VA loan with a credit score as low as 620.  Most Lenders require a credit score of 640 for a FHA, so a VA loan is an easier loan to get approved for.

6.      Mortgage Rate- VA Loans have a great low rate

7.      VA Jumbo Loans- Unlike conventional loans, you can get a VA loan over $417k.  And unlike normal Jumbo loans, your rate will not be up to 1% higher than the market rate.  Over $417k the Veteran will have to out a down payment down.  And VA Jumbo loans are up to $1 million(depending on Lender guidelines).  Her are: VA Jumbo Guidelines

8.      You can have 2 VA Loans- Most Veterans and even some Mortgage Lenders do not know that you can actually have two VA Loans at the same time.  Here are the Guidelines for having 2 VA Loans at the same time.

9.      Easier Debt to Income Ratio- VA Mortgages have looser debt to income ratio guidelines than a conventional loan.  Allowing you buy more home. 

If you are a Veteran you can’t beat the VA Mortgage!  Make sure you know all your options when getting a mortgage. 

Posted by





David Krichmar 

Mortgage Banker NMLS#293883 

Legend Home Lending

LLC NMLS #229421

Has Written For Realtor Magazine, Houston Agent Magazine, Scotsman Mortgage Guide

Appeared On Fox Business


Named 5 Star Mortgage Professional 2013, 2014, 2015, 2016, 2017

Named Top Mortgage Professional 2010,2011




For More Mortgage Info Follow me at  Dave's Blog


If you are looking for a FHA, VA, USDA, Homepath, Conventional, Jumbo, Construction, FHA 203k mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, Richmond, Bellaire, West University, The Woodlands, Kingwood, Friendswood, Clear Lake, Galveston, Fulshear, Tomball, Spring, Conroe, Montgomery County or anywhere in Texas I am your GUY!  


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Michele Cadogan-Cell 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -


Great infor to share with our returinng vets and their familes.  Thanks

Jan 17, 2012 08:17 AM #1
David Krichmar
www.DaveYourMortgageGuy.com - Legend Lending - Sugar Land, TX

So True, Thank you Michele

Jan 17, 2012 08:25 AM #2
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