Here's 4 Facts you should know about the VA Loan:
- Can only be used to purchase a home that will be your primary residence. Not for vacation or investment properties.
- 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
- 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.
- The loan can only be used on single family homes that are in move-in condition. This loan is not for fixer uppers.
VA LOANS: Who can you add to your loan?
VA LOANS: Facts
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