A VA Loan Has Advantages, Take a Look
Whether you are active duty military, in the National Guard or Reserves, prior military service or a Retired Veteran, a VA loan may be available to you. Living near a military post like Ft. Campbell in Clarksville TN means there are lots of VA buyers. Why do they choose to use this type of loan over other financing? They have earned it and this is one loan that does not require a downpayment.
You can check to see if you qualify here. The loan is easy to get and favors the Veteran and is for Veterans.
These benefits are worth checking out.
- No down payment required.
- No mortgage insurance (MIP or PMI) but a Funding Fee may be required if you don't have a service related disability of at least 10%.
- Qualifying is more lenient and the debt ratios are higher and more forgiving.
- You don't lose your VA loan and it doesn't expire.
- Some Veterans are able to have more than one loan at a time and it is reusable when the entitlement is restored.
- The loans are assumable if the buyer is deemed to be able to afford it through a qualifying criteria.
- There are no limitations on renting your home as long as you bought it for the intention to make it your primary residence.
- Investment properties up to 4 units are allowed as long as you live in one. You can use the income from the other units to qualify.
Some VA buyers may have exempt status from the funding fee. See who is exempt and learn more about the funding fee.
Find out if you qualify for a VA loan by contacting The Real Debbie Reynolds of Clarksville TN 931-320-6730.