If you’re an American active-duty military member, veteran, or surviving spouse of a veteran, you may be eligible for a VA Loan (Veterans Affairs). These types of loans are backed by the U.S. Department of Veterans Affairs and provide cost-effective and accessible financing, in an age where buying a home isn’t always cheap & easy!
Our VA loan specialist, Joe Callahan of First Choice Mortgage, was kind enough to pass along the most important benefits of obtaining this special type of mortgage:
–No down payment! VA Loans are one of the very few types of loans that offer 100% financing, meaning that you don’t have to pay any money towards your home upfront.
–No PMI (Private Mortgage Insurance)! This will help you save at the settlement table and on your monthly payment.
-Plus, First Choice Loan Services is offering a generous grant for Veterans and active-duty military personnel: an additional 1% of your purchase price (up to $2500) towards closing costs. This will help you to save even more at closing!
If you’re considering applying for a VA loan, you’ll need to provide a copy of your DD Form 214, as well as your certificate of eligibility. You’ll also need the usual documentation, including your pay stubs, W2 forms, and bank statements. If you have any questions, be sure to reach out to Joe Callahan at joseph.callahan@fcbmtg.com!
