Take Advantage Of Your VA Home Loan And Buy A Foreclosure!

With all the doom and gloom in the housing market today, many people feel that we are in a recession with only the worst yet to come. What people are not realizing however is that the market operates in cycles, and right now, unfortunately we are heading in a tailspin trying to save the economy, contain the record amounts of foreclosures, and give companies the commercial credit they need to operate their business. Enter the VA home loan. A 100% no money down program insured from the government to qualified veterans to stimulate the economy through low cost housing with interest rates lower then your normal conventional loan. With the record amounts of inventory on the market right now, banks are willing to sell their bank owned inventories of properties for up to 20-30% off the loan amount owed on the property. In addition, VA will let you have the seller pay up to 4% in closing costs. What this means is that if you buy a $300,000 home with a VA loan, the seller can pay up to $12,000 in closing costs, in addition to fixing up the property for all non-structural related improvements up to around $5,000. This is an amazing benefit to the veteran because you literally do not have to have ANY MONEY to put down. In addition, if you are a medically discharged veteran, who receives at least 10% medical per month from the VA, you do not have to pay the VA funding fee, which is normally 2.15% of the loan amount for all first time home buyers. What’s needed to qualify then for a VA loan? At least 181 days of active duty, active or discharged, honorably or medically discharged under honorable conditions., and around a 45% debt to income ratio. If your medically discharged and do not work, however get enough medical money per month from the VA to ratio for the home loan, then we can use that income as well. Take advantage of low interest rates, deeply discounted real estate, and the inclusion of your VA benefit today!!! This is an amazing time to be buying real estate, and creating your future today!

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Do You Qualify For A VA Home Loan?

Do you qualify for a VA Home Loan? Besides the fact that enlisting in the U.S. military is one of the most noble acts a man can do for his country, comes a plethora of benefits that many veterans might not know about. One of those benefits is the VA home loan. This loan is insured and backed by the U.S. government to stimulate the housing market to offer no money down financing for qualified veterans. This loan was introduced shortly after the great depression during World War 2 in an effort to put a spark in the U.S. economy. There are many benefits of this home loan, and I will be discussing the most important ones. · No money down – As long as the veteran has at least 181 days in the military and can obtain a certificate of eligibility, without any dishonorable discharge, the veteran is qualified for a no money down mortgage · 4% seller concessions – In addition to being a no money down program, you are allowed to have the seller pay up to 4% in closing costs, meaning that you really get to move into your home fore FREE if the seller is paying all the closing costs. · Medically Discharged Veterans – If you are medically discharged from the military and receive at least 10% medical benefits, your VA funding fee is waived, which can cost up to 3% of the loan amount for vets not medically discharged or injured. · No Mortgage Insurance – Because the VA funding fee you pay goes into a foreclosure pool, there is absolutely no mortgage insurance to pay on this loan. · Assumable to Qualified Vets – You can have a qualified vet just take over your payments, if you want out of your mortgage loan. · Higher Loan Amounts – Currently, in certain counties, the VA loan limits are as high as $417,000! If you are interested in a VA Colorado Home Loan, please give us a call!

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