Here are some things everyone should know about VA loans.
I’ve discovered that VA loans are still a big mystery to many Veterans, but they shouldn’t be. Here are a few little-known facts about your VA benefits:
1. Your VA rating matters. For those of you who have a VA rating of 10% or higher, the government will waive the 10% finance fee that they normally charge to process your VA loan.
2. You can reuse your VA loan. If you’ve sold your home or refinanced into another loan and have a $0 balance on your VA loan, then you can turn around and reuse it to purchase another primary residence.
3. Shop around for lenders. In today’s competitive market, it’s a great idea. A lot of lenders deal specifically with VA loans. Any local or major lender can process a VA loan, so it takes time to do your research.
4. The VA loan is a fantastic benefit. Yes, there are some restrictions on the home that you can purchase, but as long as you find a good Realtor who is able to help you with the process, it can be just as strong of a loan as any other.
If you have any questions about VA loans or real estate in general, don’t hesitate to reach out via phone or email today. I look forward to hearing from you.