CHARLOTTE – In the mortgage industry we are proud to serve those who have selflessly served and sacrificed for our country. Therefore, arguably the best mortgage product is available only to these select few, which is most commonly known as a VA loan. A VA loan is a mortgage loan, in which can be provided to active-duty military, honorably discharged members of the military and a surviving spouse.
This loan will allow the individual to purchase a home (or get cash-out of their existing home) up to 100% of the purchase price and/or appraised value (whichever is less). In addition to the benefit of no down payment, the veteran is also provided with a reduced interest rate and no mortgage insurance! Therefore, the loan will provide the least amount of out-of-pocket cost in combination with the lowest monthly payment for that borrowed amount.
Now the VA (US Government) does charge a “funding fee” to fund the loan, which can be financed into the loan, but if the veteran is considered more than 10% disabled then even that fee is waived! All in all, if you have served, or have a family member that has served, we would first and foremost like to say THANK YOU, and secondly would want to make sure they know about the wonderful benefit they can be provided when purchasing or refinancing their home.
If any questions arise about the aspects of a VA loan, please do not hesitate to call, email or text (email@example.com or (704) 430-6138.