VA Loan For Veterans

Here is another loan available just for veterans. Some highlights include:

100% financing.

Easier to get a loan because of more liberal VA Underwriters that are more understanding of credit challenges.

No Reserve Requirements, meaning you don’t need to have any savings to buy a home.

The seller can pay closing costs so you don’t have to come up with that money either.

There is no VA Funding fee required in certain circumstances (mortgage insurance.)

The VA is devoted to making sure the veteran isn’t overpaying through their strict valuation process  and checking the condition on the property.

The VA also offers Residual Income. Basically it is a budget for the Veteran adding up all of their expenses such as heat, income taxes, food, clothes, and electricity. They also do adjustments based on the number of kids for food cost.

As long as the Vet has $1 in Residual Income, the VA underwriter can approve the loan!

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