VA Loans Offer Zero Down and No Monthly Mortgage Insurance

Mortgage and Lending with Lillian Wong Loans - NEXA Mortgage NMLS 630337

VA loans offer very attractive benefits for our veterans and active military members and eligible spouses. Whether clients are first-time buyers or re-using VA benefits, this flexible, low-cost loan can accommodate a variety of situations. Highlights include:

  • 100% financing on purchases up to VA county loan limits*
  • No monthly mortgage insurance required**
  • Flexible credit with FICO as low as 580***
  • Low interest rate loans
  • Loan amount to $2 million****

Many veterans don’t know that the VA allows multiple uses of the benefit. For example, if the borrower had a VA loan and paid off that loan or sold the home, they could then buy again using a VA loan. Alternately, if the veteran currently has a VA loan but has remaining entitlement to apply toward another home purchase, the veteran-borrower could have two mortgages with VA loans.

A good strategy would be to ask all your clients if they have served in the military. If they have, I can evaluate whether they meet the VA’s qualifying criteria. I can then help your clients understand their eligibility, figure how much they could qualify for and secure their Certificate of Eligibility.

Contact me anytime to learn more about VA loans.

* If VA County loan limits exceeded, a minimum down payment is required and minimum FICO score requirements apply.

** Most VA loans will require a funding fee.

*** Additional restrictions apply for FICOs

**** Additional restrictions apply for high-balance loan amounts. 

Comments (2)

Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Lillian - I am working with buyers right now who are going to finance their next home purchase 100% through a VA loan program. There are some real advantages for those who qualify.

Mar 30, 2015 11:49 AM
Lillian Wong
Lillian Wong Loans - NEXA Mortgage - Chandler, AZ
480.650.5412 NMLS 630337

Troy, if I can help in anyway, feel free to contact me at 4806505412.

May 07, 2015 01:18 PM