4 Things You May Not Know About VA Loans | VA Loans Arizona
Most veterans and Americans are aware of the VA Loan benefit offered by the Department of Veteran Affairs (VA) for new home purchases by active duty and discharged service members. The VA Loan, however, offers great benefits and flexibility beyond just new home purchases for American military and their families.
Before we get to the 4 things you may not know, let's do a quick review of the VA Loan features and who qualifies...
VA Loan Overview
• Little-to-no down payment*
• Low closing costs
• No prepayment penalties
• VA financing fees can be "rolled" into the loan amount
• Variety of eligible property types, including townhomes and VA-approved condos
• Active Duty Service Members
• National Guard
• Surviving Spouses
For eligible military homebuyers, the VA Loan is a great option for purchasing a home during or after service, but there are other possibilities with VA Loans that many are not aware of...
4 Additional Features of VA Loans
• VA Loans can be used to build a home
• VA Loans can be used to simultaneously purchase and improve a home
• VA Loans can be used to improve a home by installing energy-related features or making energy efficient improvements to the home
• VA Loans can be used to purchase manufactured homes and/or lot.
Now that you know just how flexible the VA Loan is, the next important step is to find out exactly how much VA Benefit you have. A qualified and licensed Mortgage Loan Officer should handle this with/for you.
As the chosen initiative of Fairway Independent Mortgage Corp., military heroes and their families are a top priority for our organization. That is why we train and certify our mortgage loan officers as Military Mortgage Specialists so they are well versed in the intricacies of VA Loans.
Fairway is a Top 10 VA Loan Lender nationally as ranked by the Department of Veteran Affairs (VA). In 2013, Fairway, through the passion of its employees, started the American Warrior Initiative in support of America's heroes and has given away 25 homes and over $300,000 to veterans in business grants and donations since inception.
To get paired with a Military Mortgage Specialist, call 1-888-319-0919 or email firstname.lastname@example.org
*A down payment is required if the borrower does not have full
VA entitlement, or if the loan amount is greater than $417,000.
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