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VA MORTGAGE


The VA Mortgage Is Far Superior – Numbers Don’t Lie!

If you are looking to buy a new home or refinance your current home, there is no question that VA mortgage could be a very welcome option. Those who qualify for this program—which is supported by the U.S. Department of Veterans Affairs and benefits veterans, active armed services personnel, and their spouses—can receive a low-cost, low-hassle loan.
VA Mortgage
But how exactly is a VA Mortgage better than a conventional loan? What are the cold, hard facts?

Well, it’s easy. Lower interest rates, bigger loans, and much less money down (among other benefits). Take a look at the case study below—it demonstrates the differences between a VA mortgage and a conventional mortgage. In both cases the loan limit is $417 thousand. But the conforming-mortgage requires nearly eight times the amount of money out of pocket.

 


Conforming thirty year loan
using loan limit of $417,000
VA Mortgage thirty year loan using
loan limit of &417,000
Price Of Home $522,000 Price Of Home $417,000
Down Payment (20%) $105,000 Down Payment(0%) $0
Loan Amount $417,000 Loan Amount $417,000
Interest Rate 5% Interest Rate 5%
Credit Score 740 Credit Score 640
Principal and Interest Payment $2,239 Principal & Interest Payment $2,239
Funding Fee N/A $0 Funding Fee of 3.3% $13,761
Approximate Out of Pocket Expense/Cash $105,000 Approximate Out of Pocket Expense/Cash $13,761

(note that “closing & prepaid expenses” are not included because they are assumed to be equal for both transactions.)

 

The VA Mortgage just makes more sense. A conventional loan has a down payment of 20%, while this VA Mortgage doesn’t require a down payment at all—only a small funding fee. Furthermore, the buyer can receive an equal interest rate with a lower FICO credit score—thus saving an enormous amount of money in the long run.

The biggest advantage of the VA Mortgage here is that the qualified borrower does not need to take as much money out of the savings to purchase the home. That money stays in the bank, and the borrower can let it grow, instead of taking a large financial hit all at once.

If you’re thinking of purchasing a new home or a car, then the first thing that crosses your mind is to avail a mortgage. VA mortgage is the best kind of mortgage available in the industry. VA mortgage is a government program created specifically for the US veterans and active service personnel. The program was created with the intention to provide cheap or low rate mortgages to veterans, who have served the country. Any Title insurance group dealing with insurance cover over mortgages will recommend you this program if eligible. Lately, the VA mortgage program underwent process optimization in order to reduce the total conformance of the mortgage. The mortgage process is lengthy, and it requires significant documentation. Hence, the program is not popular among mortgage experts, who are keen to pitch the traditional mortgages. You can make up your mind and join the great LinkedIn group of VA mortgage personnel, in order to avail more information.

 

Furthermore, these benefits also apply for refinance transactions. So what if you are waiting for? Find out today if you qualify for a VA Mortgage, and see how you can profit from this opportunity! Get guidance from our Consultant.Call 866-993-6379 x250 or send an email to connect@vamortgagebenefits.org today for more information.

 

Additional Resources:

VA MORTGAGE: Article on Companynewsengine.com
VA MORTGAGE: Listed on Incwebstats.com

VA MORTGAGE: Article on Profileleadercorp.com

VA MORTGAGE: Information on Incnewstoday.com

VA MORTGAGE: Profile on Corporateinfotoday.com