Licensed Mortgage Loan Officer
100% Home Loans All Over Texas
VA advantages in addition to what Ramonica posted include zero down payment, no mortgage insurance, no prepayment penalty, seller can pay for closing costs, lower credit scores are okay.
Anna Maria Durr NMLS 266699
4500 Highway 6, Sugar Land, TX 77478
The greatest advantage of a VA loan is that borrowers don't have to come up with a down payment. This can save you thousands depending on how much home you plan to buy. Other benefits concerning VA loans are 1) no PMI 2) closing costs and loan origination are less expensive 3) appraisal fees are typically lower 4) a VA loan can also be assumed. The biggest disadvantage is the funding fee that veterans have to pay which is typically 2%. Check out this website http://www.veteransunited.com/valoans/va-loan-pros-and-cons/. Also feel free to call me I am happy to tell you about Texas Veteran Land Board loans as well.