Marquee Madness: What’s the deal with VA Loans?
Is a VA loan truly the best choice for veterans when buying or refinancing their next home?
A VA home loan is a type of mortgage that was established by the department of Veteran’s Affairs designed specifically for veterans, active service members and their spouses. A VA loan, as most veterans are aware, have several distinctive advantages. The most notable benefits are:
- No down payment
- Allows less than perfect credit
- No mortgage insurance premium
- Typically a lower interest rate
- Lower closing costs
All of these features add up to a great value for the veteran.
BUT
Be aware of the VA funding fee. If the veteran is not eligible for a waiver of the VA funding fee, it could mean that the veteran has to finance several thousands of dollars in their loan amount. There are several factors that determine the amount of VA funding fee, the veteran must pay if they are not eligible for the waiver.
We are experts in VA loans. We weigh pros and cons on all types of loans and present them to the veteran and offer other alternatives if warranted. Marquee Mortgage takes VA loans very seriously and ensure our veteran borrowers understand all the options that are available to them so they can make a decision that best fits their needs. Marquee is proud to serve our veterans the same way they serve us.
