#1 Credit is not a problem. The Veteran Administration does not have a credit score requirement. Even with 580 credit scores you can be approved for a Veteran Home Loan. You need a qualified VA loan specialist to guide you through this process.
#2 Veteran loans have a “Funding Fee” on top of the loan amount making the amount you finance slightly higher than the sales price. By all means the Administrations use of the funding fee is great because it allows us to approve these loans with no down payment which you totally deserve. BUT, if you are even slightly “DISABLED” we may be able to waive the funding fee totally, which means lower cost to you. Saving money is always a good thing in our book, how about yours?
#3 No down payment does not mean no out-of-pocket-cost. How many lmortgage companies and REALTORS advertise the “No Money Down VA Purchase” but fail to clarify what that really means? There is some upfront money involved, but a Certified Military Housing Specialist®, I'll make sure you get all these funds back at closing. It feels like being paid to purchase a home of your own! It’s AWESOME and we know it sounds too good to be true…BUT IT REALLY IS!
#4 Wouldn’t it be great to purchase a home, payoff some debts, and get cash at the closing? You can do it with your Veteran home loan purchase. This is the little secret that can make a huge difference for you in qualifying for your VA loan. But because other loan officers and mortgage companies don’t really know this, you may have been pre-qualified to purchase a home for $225,000 when you could have qualified for $275,000. How much difference could that make in size or quality of home?
#5 Did you know your Basic Allowance for Housing (BAH) could possibly cover your entire mortgage? And you will give yourself a pay raise while becoming a new homeowner. The greatest tax deduction today is Mortgage Interest…the only thing the IRS likes better is kids!!
#6 Do you have to use your Vet Loan for financing?
No you don’t, you can use any other type of financial loan, Conventional or FHA. However why would you? This loan is far superior when it has no down payment & on FHA it has 3 1/2% down payment. The VA loan has no down payment & no mortgage insurance. Of course you’re wondering about the funding fee and how it affects it, all you do is call Alliance Mortgage Funding and ask for a comparison, and you’ll see how this loan benefits you in the long run. But, if you have to absolutely get an FHA loan, you can get a discounted down payment for Veterans, another tip that people don’t want you to know.
#7 In our market today VA loans are preferred, because the VA has what’s known as a “no flip rules”. So these beautiful properties that have been renovated by investors are available to you because you’re a veteran.
#8 Do you have a Service Related Disability? Even if you're 10% disabled, your VA FUNDING FEE is waived!
#9 Do you have any collections or judgements that need to have paid off so that you can qualify to purchase a home? Do you know the seller can pay off your debt and pay closing costs? Of course, it takes a great REALTOR to negoiate these terms, and I work with only the best. So call today and I'll refer you to a local REALTOR who understand the benefits of VA Mortgages.
#10 Even if you have a bankruptcy or foreclosure & used your VA loan, you may have what’s called ‘Bonus Entitlement’. Call today to put this loan into action & figure out how ‘Bonus Entitlement’ can benefit you.
I think Veterans are the BEST. Therefore, you deserve the BEST!
Many times we trust our biggest financial decision to unqualified, eager salespeople without our best interests at heart. Each member of The Mandis Team at Alliance Mortgage Funding, Inc. is a Certified Military Housing Specialist®, trained to better serve the needs of our Veterans who have served to protect all of us. THANK YOU for your service, now let us serve you.
Contact Michael Mandis, your local Certified Military Housing Specialist®, to setup a free consultation and develop your winning strategy when purchasing your new home with a VA Loan. It will be my pleasure to serve you!
Notice: This is a privately owned and maintained web site by Michael Mandis specializing in VA financing and is not a government agency.