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VA Loan Tip #21 for Veterans
Help for VA Homebuyers
When applying for a VA home loan there are some advantages to having the VA on your side during the home buying process. Did you know that VA loans offer limitations on closing costs? The VA also offers leniency to qualified VA borrowers who are having temporary financial problems. Other benefits of a VA home loan include long terms of repayment, prepayment rights (with certain guidelines) and under the right conditions, no downpayment required. You are also entitled to get an accurate assessment of the reasonable property value of your proposed purchase. These are just a handful of the added benefits of applying for a VA home loan.
The VA has a great many ways to assist those seeking a VA mortgage, but there are also restrictions. When you purchase a home using a VA home loan, the VA does not offer guarantees that your home is free from defects. While the VA does conduct an appraisal of the property, this should not be misconstrued as an 'inspection' or approval of the condition of the property. The VA does not order builders to correct problems or defects in the construction of your home. It's the buyers responsibility to seek expert advice about the condition of a property before purchase. Additionally, the VA cannot offer legal counsel of any kind. The buyer is responsible for being informed about rights and responsibilities with regard to new property purchases. When in doubt, hire a lawyer or an expert in property evaluation.
VA Loan Tips for Veterans
- Entitlement to a VA Home Loan
- Advantages to the VA Guaranteed Loan
- About VA Loans with Adjustable Rates
- Getting Pre-approved for your VA Loan
- Eligibility for a VA Home Loan Guaranty
- Your Discharge May Affect Your Chances
- I Lost My DD214
- For Those Who Already Have a VA Loan
- A One Time Deal
- VA Loan Partial Eligibility
- VA Loans and Rental Properties
- VA Loans and Your Debt Ratio
- Uses for Your VA Loan
- About the VA Funding Fee
- Co-signers on VA Loans
- The Veterans Benefits Act of 2004
- VA Home Loans and Fair Housing Laws
- VA Pre-approved but Can't Find a House
- VA Loan foreclosures
- Improving Credit to Enhance VA Loan Eligibility
- Help for VA Homebuyers
- VA Loans to Purchase Farms
- VA Loans for Properties Outside of the US
- VA Home Loans After a Borrower's Death
- Selling a VA Loan Property
- VA Mortgage Payments
FREQUENTLY ASKED QUESTION # 9 [ -more VA Loan questions- ]
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Q: The VA Guaranteed Loan - Advantages
A: If you are looking to purchase a home with no money down, you're in luck if you qualify. VA mortgage loans can be guaranteed with no money down in most cases up to $417 thousand dollars. An added bonus? No private mortgage insurance requirement with a VA guaranteed loan. The VA even offers help for those looking to refinance. Don't investigate these benefits without asking for information about the interest rate reduction loan, part of something called the Streamline Refinancing Program, which allows veterans to refinance at little or no expense to them. VALoans.com can give you all the details you'll need to take full advantage of your VA home loan benefits.
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VA Loan Rates
for 11/21/2008
30 year fixed
-----------------
0.000 points
6.500%
6.618% APR
15 year fixed
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0.000 points
6.500%
6.694% APR
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