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Steve Romero's Blog

By Steve Romero | Mortgage Broker
or Lender in San Jose, CA

Are you a Military Veteran looking to buy a home?

Why use the VA Program?

VA technically does not have Mortgage Insurance. VA does have a Funding Fee, which is VA's form of insurance. If you're a military veteran who receives any compensation as a Disabled Veteran, the VA Funding Fee (which is anywhere from 2.15% to 3.3% of your loan amount) is waived.

Even if a veteran has 10% for down payment, the cost of the Funding Fee, makes the VA program a less expensive option than a Conventional loan. The added monthly expense due to the VA Funding Fee, is a fraction of cost of Monthly Mortgage Insurance.

If you're a veteran looking to buy a home in California, please send me an email, or contact me at 650-701-7228.

Steve Romero

© Copyright - 2013 Steve Romero


Comments

By Jamie Tian,  Sun Nov 24 2013, 11:56
Thanks for sharing!

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