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Va Loans for Vets provides and assists all veterans and active duty military with ALL of their VA Home Loan Financing Needs. Be a proud homeowner today. For more details call us at 480-351-5904 or visit our site http://www.valoansforvets.com/VA Loans for Vets7702 E. Doubletree Ranch Road, Suite 220Scottsdale, AZ 85258Phone: (480) 351-5904Email: [email protected]

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The Pros And Cons Of VA Loans

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The pros and cons of va loans

The Pros and Cons of

VA Loans


The pros and cons of va loans

The Veteran’s Administration guaranteed home loan program has allowed millions of veterans and active duty service members an affordable way to own their own homes.


The pros and cons of va loans

The program does not provide home loans for veterans. Instead, it guarantees loans given by private lenders.


The pros and cons of va loans

A look at the pros and cons of the program can help homebuyers determine if a VA guaranteed loan is right for them.


The pros and cons of va loans

Pros of VA Home Loans


The pros and cons of va loans

The VA home loan program is popular because it offers homebuyers a number

of advantages:


The pros and cons of va loans

·Little or no down payment is required – Homebuyers can purchase a home sooner because they do not have to save for the large down payment required by lenders offering conventional loans.


The pros and cons of va loans

·Competitive interest rates - Because the risk for repayment of the loan is covered by the federal government, lenders can offer lower interest rates.


The pros and cons of va loans

·The purchase price of the home is assured – A VA appraisal ensures that the home is worth the value of the loan.


The pros and cons of va loans

·Closing costs are limited – The VA program will pay customary closing cost items, but not additional costs.


The pros and cons of va loans

·No prepayment penalty – Homeowners who then sell their property do not have to pay a penalty for paying off the loan earlier than its term.


The pros and cons of va loans

·VA loans are assumable – The homeowners can offer the favorable mortgage terms to a subsequent buyer.


The pros and cons of va loans

·Forbearance for financial difficulties – If the homeowner has a financial setback and cannot make payments, special terms can be negotiated for them.


The pros and cons of va loans

·Warranty for VA approved construction – The VA will assist in enforcing the builder’s warranty for justifiable construction complaints.


The pros and cons of va loans

Cons of VA

Home Loans


The pros and cons of va loans

A home loan through the VA program also has a number of disadvantages that homebuyers should take into account:


The pros and cons of va loans

·VA home loans are for the purchase of primary residences - These loans cannot be used for purchasing investment property or second homes.


The pros and cons of va loans

·You must pay a VA loan funding fee – The VA imposes a fee on these loans to fund the program. The fee can be rolled into the loan amount.


The pros and cons of va loans

Veterans who have service-related disabilities are exempt from paying this fee. The funding fee increases each time you use the VA home loan funding program.


The pros and cons of va loans

·Sellers may not agree to a sale with VA loan – A number of misconceptions regarding VA home loans have contributed to seller reluctance to enter the application process.


The pros and cons of va loans

However, sellers may be required to pay some of the closing costs, and this expense may put off

some sellers.


The pros and cons of va loans

·Loan limits and overlays may apply – The VA home loan program does not impose limits on home loans. However, private lenders may have additional requirements, called overlays, in regard to loan amounts.


The pros and cons of va loans

These requirements help to ensure that the lender maintains its favorable record with the VA.


The pros and cons of va loans

·VA loans do not guarantee construction defects – Approval of the loan neither guarantees that the property is free of defects, nor can it compel the builder to correct any problems with construction.


The pros and cons of va loans

However, it can suspend the builder from the VA program.


The pros and cons of va loans

·The VA program does not provide for legal services, if necessary – Any legal action against the builder or previous owner is the responsibility of the buyer.


The pros and cons of va loans

Our VA Loan Specialist helps veterans obtain the loans they are entitled to.


The pros and cons of va loans

He served in the United States Marine Corps, and now devotes himself to the Veteran home buyer in the Phoenix area, fulfilling a passion of his while at the same time helping others achieve home ownership.


The pros and cons of va loans

Be a proud homeowner today.

For more details call 480-351-5904


The pros and cons of va loans

Visit the site at:

www.valoansforvets.com


The pros and cons of va loans

VA Loans for Vets

7702 E. Doubletree Ranch Road, Suite 220

Scottsdale, AZ 85258

Phone: (480) 351-5904

Email: [email protected]


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