VA HOME LOANS

01 December 2012

I've been doing a lot of research on the VA Loan because me and my husband want to purchase a home within the next few years. VA Loans offer $0 down and low monthly payments. The loan is guaranteed to active duty service members.

Here's 4 Facts you should know about the VA Loan:
  1. Can only be used to purchase a home that will be your primary residence. Not for vacation or investment properties.
  2. The loan can be reused after it's paid in full. For example you pay your loan off on your house. Now you want to purchase a condo, so you can take out the VA Loan again
  3. This Loan does not offer mortgage insurance. Other loans require you pay a monthly fee when you can't make a 20% down payment. Not having to pay mortgage insurance will save you a lot of money.
  4. The loan can only be used on single family homes that are in move-in condition. This loan is not for fixer uppers.
Here's a few helpful links regarding the VA Loan.

VALOANS.COM
VA LOANS: Who can you add to your loan?
VA LOANS: Facts
VA LOANS: Facebook Page

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2 comments:

  1. We are using a VA loan to purchase our new home. So excited. :)

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    Replies
    1. Can you share your experience with me because we plan to purchase within the next year!

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