Ep180 “Veteran’s Day and VA Loans”
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Manage episode 408215909 series 3564174
- Introduction
- DISCLAIMER – I AM NOT A VETERAN NOR AM I A LENDER!!!
- What is a VA loan?
- Pros of a VA loan (from veteransunited.com):
- 100% financing
- No PMI
- Higher DTI
- Flexibility with credit
- Better than average interest rates
- Seller can cover all closing costs
- Multiple refinance options
- No prepayment penalty
- VA loans are assumable
- Must appraise!
- Cons of a VA loan (from veteransunited.com):
- VA funding fee
- VA funding fee increases after the first use
- Loan could exceed market value!
- Can only be used for primary residences
- Weakest of all loan types
- Seller required to purchase the pest inspection as a requirement of the loan guidelines
- Do I qualify for VA loan?
- Check va.gov to see if you are eligible for a VA loan!
- What do I need for my VA loan?
- Final thoughts
100 episodes