Buying a Home with a VA Loan

LIFETIME BENEFIT
Veterans can use their VA Entitlement more than once to purchase or refinance properties.

0% DOWN
Traditional loans typically require a buyer to provide at least 3 to 5 percent of the homes price as a down payment and with today's stricter underwriting environment that down payment can reach 15 or 20 percent. For many first-time home buyers, supplying this amount of money upfront may not be feasible. The VA loan is one of the few programs in the country that does not require a down payment. Maximum loan amount with no down payment capped at $417,000. NO MORTGAGE INSURANCE REQUIRED!!!!

NON-CONFORMING LOANS(JUMBO)
Veterans can borrow up to $1,000,000 with a minimum down payment. NO MORTGAGE INSURANCE REQUIRED!!! 

REFINANCING
VA Allows up to 100% cash-out refinancing for currently owned home.

VA STREAMLINE REFINANCE (IRRRL PROGRAM)
Veterans with current VA mortgage can refinance to a lower rate without appraisal or employment verification.

FIRST TIME BUYERS
The best financing available for first time home buyers.

VETERANS - YOU EARNED THIS ENTITLEMENT!!!!!

THANK YOU FOR YOUR SERVICE TO OUR COUNTRY
For more information or questions regarding your VA Entitlement, please contact me by clicking HERE!

 

Buying a Home with a VA Loan

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Jim Pomposelli - Federal Savings Bank

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