VA Loans – Cheaper if you make a Downpayment
August 25, 2009 by Eleanor
Filed under VA Mortgage Loans
There are GREAT VA benefits, but most Veterans we talk to never mention them to their loan officer! That’s a shame, because there are many times when it might make sense to do a VA home loan as opposed to a Conventional or FHA loan for your mortgage program!
If a Veteran can put a down payment on the home, the funding fee is reduced. For regular military, the funding fee on a 95% loan is only 1.5% and 1.25% on a 90% loan. Reserve members pay 1.75% & 1.5%, respectively.
There’s no MONTHLY fee – which is why it is cheaper than FHA or often times, Conventional PMI.
If you are considering purchasing a home in NC and you want to get pre-qualified, please call Steve and Eleanor Thorne 919-649-5058! We have the LOWEST RATES!
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