Do VA Loans Have PMI?
Private mortgage insurance (PMI) can be a hurdle for your family to close on your dream home.
The great news is that the Department of Veterans Affairs (VA) makes it easier by paying for mortgage insurance in full.
We want to tell you more about how the VA Loan handles PMI so you can have confidence in moving forward on an affordable loan option.
How VA Home Loans Work
As the home market continues to fluctuate, it may be the perfect time to buy with the VA Home loan. If you’re an active-duty service member or vet, there’s a good chance you qualify.
You don’t want to miss out on this 0% down payment home loan to move into your family’s dream home.
However, VA Loans are not the same conventional loans, FHA loans or other home financing options. They have unique service qualifications, eligibility, and benefits that no other loan has.
That’s because the Department of Veterans Affairs (VA) guarantees them and places regulations in so you can enjoy your home without default or financial obstacles.
Whether this is your first time buying a primary residence or you’re going at it again, you’ll need to freshen up on how VA Home Loans work.
VA Loan Calculator for Veterans
If you’re a vet or active duty service member, that means you qualify for the VA Loan. But what will your monthly payments look like and what factors contribute to the total loan amount?
When working with an experienced lender, it’s important to know these numbers so you can get the most affordable rate.
Below is a simple VA mortgage calculator and some factors that affect your monthly payments.
Everything You Need to Know about the VA Funding Fee
If you’re an active-duty service member or veteran, you’ve probably heard about the amazing benefits the VA Loan offers.
With no down payment, zero private mortgage insurance, and flexible credit score requirements, it’s the most affordable home loan for the military.
However, you may be going through the VA Loan Journey with a lender and discovered there’s a VA Funding Fee at closing. Or you could be doing research to prepare for a VA Loan and are frustrated at paying the fee.
We want to encourage you that VA Funding Fees are not what you think at first. Even with this closing cost, the VA Home Loan still ranks as the top financing option on the market.
Our VA mortgage lenders will explain more about VA Funding Fees and an experienced lender secret that will minimize the price.
How Much is Your House Worth?
The value of your home represents the amount that potential buyers are willing to pay during a purchase. This amount can vary significantly, depending upon what a buyer feels is valuable.
How Long Does it Take to Get VA Loan Approval?
Because there are so many processes to consider when getting a VA Loan, the processing time may take a while. To make the process easy, contact the Vercellino Team.
Welcome Home Vietnam Veterans Celebration
To honor Vietnam veterans, who often did not receive a hero’s welcome when returning home, Jimmy Vercellino and his team are recreating the welcome home experience they deserved.
Jimmy Vercellino Ranked a 2015 Top VA Loan Originator
New Jersey-based residential mortgage lender First Choice Loan Services Inc., a wholly owned subsidiary of First Choice Bank, today announced that VA Loan OriginatorJimmy Vercellino has been ranked a Scotsman Guide2015 Top Originator.
VA Loans Nationwide
If you would have asked me 10 Years if I would be helping Veterans in other states about helping them with their VA Loan Benefits I wouldn’t have believed you.
VA Loan Training for Real Estate Agents
For nearly a decade I have been doing VA Loan Training for Real Estate Agents here in Arizona and across the nation and I must be honest with you. Teaching is my passion and I absolutely love to do it.
Get Started
I am here to help you get your dream home. Click here to start the VA Loan application process.
My Story
I am a committed and passionate professional who puts my VA Loan clients above all else.
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My Mission
To provide and assist all veterans and active duty military with ALL of their VA Home Loan Financing Needs!