- There is no down payment requirement, meaning you can get 100% financing.
- There is no mortgage insurance requirement, even if you put no money down.
- Interest rates are lower than they are for other types of loans.
- You are not limited to one VA loan in your lifetime.
- VA loans have the shortest waiting periods after bankruptcies, foreclosures, and short sales.
VA loans never require mortgage insurance, even if you put no money down.
VA loans are available to the following people:
VA loans have a funding fee, which is a fee that VA charges to help pay for the VA loan program.
The funding fee varies between 1.25% and 3.33% of the loan amount.
The borrower may be exempt from the funding fee if they are receiving VA disability payments.
The funding fee can be included in the loan amount.
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