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VA
NO
MONEY DOWN!
There is a financed VA funding fee of 2.15%, and no monthly mortgage insurance.
The seller can pay all of the closing costs & pre-paid items. Even veterans
earning entitlement from the Reserves can participate. Disabled veterans don't
pay the VA funding fee.
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This
nation will remain the land of the free only so long as it is the home
of the brave. ~Elmer Davis |
The
VA loan began in 1944 through the GI Bill of Rights. This
provides veterans or their surviving
spouses,
provided they do not remarry, with a federally guaranteed home loan with no down
payment.
VA
guaranteed
loans are only made by approved lenders to eligible veterans for the purchase of a primary residence.
The guarantee of a
VA loan means that the lender is protected against financial loss in
the event that the borrower fails to repay the loan. It replaces the protection
that lenders would normally have by requiring a down payment.
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