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Benefits of VA Home Loans

BENEFITS OF VA HOME LOANS

 

 

 

 

 

 

 

 

 

  1. No down payment as long as the sale price does not exceed the appraised value.
  2. Loan-to-value ratio of 100 percent.
  3. Back-end debt to income ratio of 41 percent under certain circumstances.
  4. No private mortgage insurance
  5. Limits on closing costs, which may be paid by the seller
  6. No penalty for early payoff
  7. Loan is assumable by another qualified veteran borrower.
  8. May apply for a new loan two years or sooner after a bankruptcy.