A VA-guaranteed mortgage is usually the best way for active or inactive veterans to buy a home. VA mortgages allow buyers to buy homes with absolute no pocket expense!
There are closing costs associated with buying a home. This fee can be paid by the seller of the property on behalf of the buyer. However, these costs must be included in the selling price of the house.
When negotiating to buy a home, explain to your sales agent that you want the seller to pay your closing costs as part of the deal. The fees you want the seller to pay are fees such as lender fees, attorney fees, state and local taxes, etc. Be sure to get a Good Faith Estimate from your lender, so you will know the exact amount of fees associated with your WA loan.
VA loans don’t have monthly personal mortgage insurance like most conventional loans, so in most cases your monthly payments will be significantly less. VA loans have a VA funding fee that is charged upfront and included in your loan amount. The funding fee is 2.15% of the loan amount for first-time VA users and 3.00% for second and subsequent uses.
VA interest rates will vary from lender to lender, so shop around to see who offers the best deals. Be careful though, as some lenders will offer you low rates, but charge discount points to increase their profits.
If you have any questions, comments or want to apply for a VA secured loan. Apply online at http://www.bretlinfloridamortgage.com