Thank you veterans for your service to our country. You all performed a selfless act which we will be forever grateful.
Details of a Veterans Administration Loan:
- Maximum loan at 100% is $417,000 (if the verteran has full eligibility)
- No Down Payment required
- Funding fee is 2.15% of loan amount for the first time user and 3.3% of the loan amount for the subsequent user
- Veterans pay only allowable fees. The non-allowable fees are paid by the seller (title company, escrow fee, doc prep, courier & lender fees)
- Veteran must occupy the property within 60 days
- Only a spouse can be a co-mortgagor with a veteran
- If the veteran is married joint credit must be pulled
- Power of Attorney is acceptable, but it must be VA specific
- Seller can contribute up to 6% of closing costs
God bless our troop here and abroad!
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