Home Owner Benefits for Veterans
The Veterans Administration Home Loans are by far, the best home loans available. They do not require a down payment, the sellers can pay all of the closing costs, there is no monthly mortgage insurance, and current interest rates are under 4%.
If you are a Veteran and have a DD214 (eligibility) and have a home loan other than a VA home loan, you may be able to save money each month and over the remainder of your current loan with a refinance.
If you are a Veteran and have not purchased a home, you may be able to obtain a home with payments less than rent. You have very little upfront cost and may be able to recoup the amount back at closing. The upfront funds would be for an earnest money deposit to put with your offer to buy a home.
Current VA home loan interest rates are 3.75% with a credit score of 680 and above and a home cost of $200,000. A monthly principal and interest payment based on these factors is $946.15. The home owners insurance and property taxes will be added to this figure to come up with the total monthly housing payment.
Home prices and interest rates are expected to rise gradually in the upcoming months. Why not check into your possibilities? It doesn’t cost anything to find out what you can do.
For more information, contact a trusted mortgage originator.
JoAnn Moore is a licensed mortgage loan originator and owns The Mortgage Market of Delaware in Georgetown, Delaware. Office 302.855.1306, Cell 302.236.1229. MMODJoAnn@aol.com