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Patricia Ruiz, Real Estate Pro in El Paso TX, TX

My client is interested in a VA foreclosure. They are getting a VA loan. Are there any benefits to this?

Asked by Patricia Ruiz, El Paso TX, TX Thu Jan 22, 2009

I had heard there is. However, I can't remember where I had read this.

Help the community by answering this question:


Hi Pat. On VA foreclosures you can get what is called vendee financing - which is a VA loan directly from the Veterans administration - not through a mortgage company. This is a better way to go because no appraisal is required and no repairs are required.
0 votes Thank Flag Link Fri Jan 23, 2009
VET TO VET is definetly a perk! Your Lender will detail these advantages to you!
VA financing are advantageous for the following reasons:
Some of the many advantages of choosing a VA Mortgage include:

No down payment
Easier qualification standards
Lower rates
No mortgage insurance (saving you money each month)
Best of luck to you and your client!

0 votes Thank Flag Link Thu Jan 22, 2009
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