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Five Reasons to Fall in Love with a VA Home Loan

By
Mortgage and Lending with University Lending Group NMLS# 133950

What's so special about VA Home loans?  Plenty, I say!  For years, few loan profesionals have focused on this incredible niche of serving those individuals who serve us.  With tightening underwriting guidelines and dwindling product availability, suddently the VA Home Loan is popular again!

VA Home Loans have held a soft spot in my heart for several years. I appreciate not only the joy and satisfaction which comes from serving our men and women of the United States Military, but also the benefits of the VA Home Loans for those clients.

Soldier saluting flag

Here are the top five reasona you will also fall in love with the VA HOME LOAN:

100% Financing (one of the two remaining programs)

Competitive Interest Rates - even with less than perfect credit scores!

Flexible Credit Requirements such as:

     Higher debt ratios are many times allowed

    Lower reserves (money left in the bank after closing) required

    Lower credit score requirements

No monthly mortgage insurance Unlike conventional and FHA loan products, with monthly mortgage insurance premiums that could go as high as 1.45%, there is NO monthly mortgage insurance with the VA loan.

The VA Funding Fee can be financed into the loan

If you haven't researched the benefits of the VA Home Loan, you should do so today.  You can contact me at peggy@peggyloans.com or find additional information by clicking the link below:

Additional VA Home Loan Benefits 

Posted by

Peggy Wilson

License #13950

734.238.3MTG (684)

peggy@peggyloans.com

Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Peggy, As a veteran myself. I love these loans too. I was certainly happy that one of my present clients decided to use his VA loan for a single family home instead of a Condo. Single Family residential homes are a lot easier to qualify than those Condo.

Mar 19, 2013 04:53 AM
John Pusa
Glendale, CA

Peggy - Thank you for sharing detailed information about five reasons to fall in love with a VA home loan.

Mar 19, 2013 05:51 AM
Peggy Wilson
University Lending Group - Ann Arbor Township, MI
Michigan Mortgage Pro

Thanks, John. They are great loans.  Jerry, you've got that right about single family vs condo.  In Michigan we have Site Condos (an easy way for builders to circumvent the Subdivision Control Act) which makes doing VA loans on the newer built homes really difficult.

Mar 19, 2013 05:57 AM
Jon Quist
REALTY EXECUTIVES ARIZONA TERRITORY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

I loves me some VA loans. And coupled with a good lender, and a great contract writer (me) the buyer can truly get in for no cash out of their pocket.

Mar 19, 2013 08:21 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Peggy:  Very timely post containing great info!  VA loans provide hope to those veterans wanting to buy a home.  VA Loans represent a very viable way for Americans to re-pay veterans for the sacrifices they make on our behalf.  Definitely due them ... and again, definitely timely given how many veterans have and will be returning from the Middle East ... and elsewhere ...

Gene

Mar 19, 2013 08:35 AM
Peggy Wilson
University Lending Group - Ann Arbor Township, MI
Michigan Mortgage Pro

Jon, you are so right!  It's a beautiful thing!

Mar 19, 2013 08:35 AM
Beverly Carlson
Carlson Properties 325-721-2429 - Abilene, TX
Abilene's Staging Realtor

I can't think of any down side to a VA loan except if you pay too much which is hard to do as the loan has to appraise.   A savvy homebuyer will consider doing a 15 year mortgage as well. instead the standard 30 year.       

Mar 19, 2013 09:19 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I spent the first 10 years of my 31 years in this business, working in an office not far from a local Air Force Base.  A large percentage of mortgages originated on my transactions back then were VA loans.  Time and again, I saw the benefit to our military personnel with VA loans.

Mar 19, 2013 10:03 AM
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

VA home loans are great and I sure appreciate the men and women that serve to help us remain free. VA loans are awesome way to purchase a home and use the benefits you have earned for your service

Mar 19, 2013 11:11 AM
Wika Hutchinson
Eugene, OR
Broker, CRIS, SFR, CDPE
Great post Peggy. It's really good that they offer great deals with VA loan. Active service members are also protected from foreclosure.
Mar 19, 2013 03:38 PM
Marc McMaster
RE/MAX Centre Realty - State College, PA
Putting my clients before myself

I have a VA loan and I think it's one of the ways the military really helped us.  At times when I was in it felt like the military was already trying to get one over on you but the VA loan program is a good one. 

Mar 19, 2013 08:48 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Peggy, when I was doing residential real estate VA loans were very popular because of the Military presence in the Washington, DC area. An excellent program to help out our Veterans.

Mar 19, 2013 11:07 PM
Peggy Wilson
University Lending Group - Ann Arbor Township, MI
Michigan Mortgage Pro

Great suggestion, Beverly, about the 15 year!  The payments really are not that much higher. Myrl, Laura, Wika, Michael, and Marc - it's so very heartwarming to work with these people knowing that not I can serve THEM.  Erica, remember that we're making more veterans every single day these last few years.  That's probably why you are seeing more of these great loans.

Mar 20, 2013 03:23 AM