To "VA" or not to "VA", that is the question!

Mortgage and Lending with Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate. LMB100023827. NMLS257576.

If there is one standard reason given for not considering a VA loan over other options, it's about the VA funding fee. So, "drop the mic"! It's time to crush a few misconceptions! If you are qualified, keep reading.  If your are not sure, click VA lOAN OVER VIEW.

First, there is no better NO DOWN. However, $0 down on a VA interest rate trumps any other options I know of - at least as of now.

So, what about a 5% down? Well, let's start by looking at a chart explaining VA funding fee charges:

 Colorado Home Lender

5% down payment on a conventional loan is far better than a minimum down (3.5%) FHA loan with an upfront and monthly MI cost. Yet, 5% down on conventional is still going to require MI that is greater than the VA funding fee. PLUS you have (typically) better rates on a VA loans and MUCH easier qulificaiton criteria.

So, what about 20% down? When would VA be a better option than conventional?


Call your Colorado Home Lender, or a licensed lender in your area for more details.


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Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Fairway Independent Mortgage.

Ruth Vogt Colorado Mortgage Lender Ruth Vogt, Sales Manager

 #LMB100023827, NMLSR# 257576

 Equal Housing Opportunity. 

 Regulated by the Division of Real Estate.  303-881-7849.


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