NO MONEY DOWN HOME LOANS for VA eligible home buyers.
Good business reasons for the ZERO DOWN PAYMENT loan for eligible VA borrowers.
Low default rate.
Low foreclosure rate.
The VA holds lenders to a high standard for loan approvals.
VA approved appraisers are experienced.
VA approved lenders comply with high VA underwriting standards.
VA borrowers are highly disciplined.
The VA offers help for re-assigned active duty military home owners.
REAL ESTATE AGENTS LEADING THE WAY??
Experienced real estate agents know that VA eligible borrowers are good buyers.
WHAT ABOUT THE LENDERS?? Questions to ask of loan officers.
Is your company a VA LAPP lender???
These lenders have been examined by the VA and have the ability to underwrite and process the loan in-house.
What is the minimum Credit Score your company requires for VA borrowers?
Some lenders will have a “lender overlay” and require a higher credit score for VA borrowers than other (more risky) programs.
Do you charge a premium interest rate for VA loans?
Some lenders will “tack on” an extra 1/4% to the rates offered for VA loans. While there is a bit more paperwork for VA loans,
it’s surely no more work than other state and local “programs” such as USDA and state and local programs that require 2 under writings.
VA LOANS ARE GOOD BUSINESS FOR ELIGIBLE HOME BUYERS, SELLERS and LENDERS.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
Serving home buyers in Maryland and Northern Virginia.