The VA Loan program does not typically require a down payment when purchasing a home. 100% financing is available and there is no monthly mortgage insurance on a VA Mortgage.
Veteran home buyers will still have closing costs associated with their home purchase and VA Home Loan. However, VA guidelines put no limit on the home seller paying the Veteran home buyer’s normal closing costs, and seller concessions (such as paying the VA funding fee or paying off the buyer’s debts) can go up to 4% of the purchase price. We can advise you or your real estate agent on how to properly write the home purchase contract for the seller to pay closing costs. Doing this will minimize the Veteran home buyer’s cash required to close on the home.
To get started on your VA Home Loan, call us at 888-241-5657 or fill out the short form on this page. A specialist from our team will contact and assist you with your VA Mortgage pre-qualification.