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There is a lot of TMZ style information regarding VA Home Loans on the Internet – Catchy headlines with no worthwhile information
I am going to breakdown why you need VA Home loan, What’s good about, how it benefits you in 5 Easy Points
First VA Home Loans You do not need a down payment.
Second. The VA Loan Limit is greater in some areas than Conventional financing. For Example in Boston 417,000 is the conforming loan amount but VA it is 511,250.
Third. If You Need to Exceed the VA loan limit you are only putting down 25 cents for every additional dollar you want to borrow.
4th. No Monthly Private Mortgage Insurance
5th. Your Loan is Assumable by other Veterans that would qualify for a VA home loan. If Your Interest rate is 4% in the future if rates are significantly higher the buyer might be willing to pay the broker fees which typically are 5% of the transaction.
If you have any questions regarding mortgage or real estate please call me 617-529-9317