Veteran Loan Tips for Northern Virginia Relocation
Veteran loans are by far the best mortgage financing available on the market today. Veterans and active duty military can purchase a home with no down payment on homes up to $818,750 in Northern Virginia.
Here are five VA loan tips you should know:
- Veteran Loans do not have expensive monthly private mortgage insurance like FHA and conventional loans. (FHA coinciedentally just raised there's higher at the time of this post)
- VA loans can be streamline refinanced up to 100% of current market value . Streamline means no credit qualifying.
- Veterans can have two zero down home loans. So although the home you are leaving behind was bought with your Veteran Benefits, you can purchase again with bonus entitlement in high cost areas such as Northern Virginia (of course we have to calculate remaining entitlement for sales price)
- Veterans that have at least ten percent disability do not have funding fees.
- Veteran loans can be closed in 30 days or less by your local VA Lender in Woodbridge, VA. The credit unions are great but trying closing a mortgage loan with them quickly....
So if you are active duty military or relocating to Northern Virginia, now is a great time to buy a home with your VA home loan benefits. In Northern Virginia renting a home has become a very expensive option.