We salute our nation’s military- VA Loans

This week’s product highlight is VA Loans.

 

  1.        VA loans are for current active military or reservists or retired military or reservists.
  2. This loan is a great option because it allows for 0 down payment and no monthly mortgage insurance.
  3. The seller can contribute towards the buyers closing costs. 
  4. There is a Funding Fee that can be rolled into the loan- similar to the Guarantee Fee on  USDA loans or Upfront Mortgage Insurance Premium on FHA loans. This Funding Fee can be waived if the Veteran is Exempt.
  5. The lender needs a copy of the buyers DD-214 & Certificate of eligibility.
  6. This loan is only good on the purchase of an owner occupied property.
  7. There is no Rehab/Renovation version of this loan so no repairs are allowed.
  8. The Military member can only have one VA loan at a time.

 I closed a VA purchase in December in 18 Calendar days!

They are not difficult loans to do if you work with an experienced loan officer that knows how to do VA loans. 

I look forward to serving your Veteran clients! 

With any closed loan that your client opens an account with Talmer Bank & Trust and authorizes auto deduct of the mortgage payment- the client receives $200 off closing costs.

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About lizschneider66

Mortgage consultant with over 18 years experience. First time buyers, move up buyers, construction, FHA/VA, Jumbo loans, investment property purchases, & refinances- I will find the solution to financing the American dream of homeownership! Subscribe to my blog and never miss any mortgage industry news.
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