To all my blog readers and subscribers, I always try to bring to you things of value and substance whether or not it came from me or another colleague in the real estate industry.
This is yet another one of those instances, Rebekah Radice, a mortgage loan originator with Benchmark Mortgage and a colleague of mine out of Colorado Springs, CO has some great and practical advise that I think anyone who owns a home and is considering selling your home or a prospective home buyer would benefit from.
This information is especially worth sharing with all Dallas/Fort Worth, TX Veterans, Active Duty, Guard and Reservists who are considering purchasing a home.
All current and former military personnel who want to purchase a home should consider VA Financing. Because my wife is in the United States Air Force, I have experience working with Veterans of all types here in the Metroplex. I can walk you through the tedious process of purchasing your home successfully. We work with local lenders who will explain all the ins and outs of VA Financing to Northeast Tarrant County Home Buyers.
To your success,
John Hrisco of John Hrisco and Associates
PLEASE NOTE this is a National Program, not just a Colorado program.
p.s. if you feel like making a comment here for the reblog, thank you, but please visit Rebekah's original blog post via the link below and tell her what a great job she did on the information provided.
If you are a veteran in Colorado Springs, purchasing a home and utilizing your VA home loan benefits is easier than you think. There are so many advantages that come with a VA Loan; it’s easy to see why so many Colorado veterans choose this loan over a FHA or Conventional Mortgage. Check out the amazing opportunity you have with a VA Home Loan:
NO Down Payment
VA Home Loans are one of the last remaining ZERO down payment loans. When you couple this with the fact that a seller can pay all the reasonable and customary closing costs, you have the opportunity to step into a home with little to no money out-of-pocket.
Low Rates Equal Lower Monthly Payments
Interest rates are also lower with a VA Loan and can be anywhere from 0.5%-1.0% lower than a conventional loan. A lower rate combined with monthly mortgage insurance or PMI savings can substantially lower your monthly payment.
NO Mortgage Insurance
PMI, or private mortgage insurance, is not necessary on a VA loan unlike the requirements for Conventional and FHA loans. Conventional and FHA loan programs can carry hefty monthly mortgage insurance premiums that could add hundreds of extra dollars to your monthly payment.
Because a VA loan is backed by the government, banks have relaxed the often strict lending rules you see with other types of loans. A VA mortgage is easier for VA loan applicants to obtain.
VA Mortgage Benefits:
- VA guidelines do not put an unusual amount of importance on credit scores, but will require that your most recent 12 month credit history be free of late payments, collections or judgments.
- Less reserves required (meaning how much money you have left in your bank account after closing) and
- Lower credit score requirements – most lenders are looking for a minimum 620 credit score.
NO Prepayment Penalty
Several years ago, it wasn’t unusual for a Conventional loan to carry a hefty prepayment penalty. The cost to pay off your loan prior to the expiration of the prepayment penalty could cost hundreds if not thousands of dollars. The VA does not allow for a prepayment penalty which allows you to pay your loan off at any time.
PreQualify for a VA Loan in Colorado Springs
Whether you have used your VA eligibility previously or are using your VA benefits for the first time, we would love to help you understand the unique advantages of a VA Home Loan. Start using your VA Benefits and be on your way to owning your new home by Pre-qualifying for a VA Loan Today.
Imagine What a VA Home Loan Could Do For You was written by Rebekah Radice.
Rebekah's Mortgage Grapevine (unashamed plug) provides insight, education and musings on anything from mortgage lending and real estate, to social media, marketing and all things relevant to your everday success! If you want to learn lots of cool things, have your thoughts provoked, AND be entertained, be sure to hit the SUBSCRIBE button to the right!
Rebekah Radice | Mortgage Loan Originator
Want to know more about me? Just Google Me!
T: 719.387.1368 | Email: email@example.com | Website: http://rebekahradice.com |CO & NMLS Licensee: LMB100010938 & 288596 | Benchmark Mortgage dba Ark-La-Tek Financial Services, LLC | 12 E. Kiowa |Colorado Springs, CO 80903
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John Hrisco & Associates: When experience counts, the sign you want, the agent you need. Licensed Texas Real Estate Broker #0480703, with over 13+ years experience buying & selling real estate in the D/FW Metroplex. Integrity, Professionalism, Results & Charity is our Mantra. It is how we go about our lives and our business. We undertake a specialized set of tasks and orchestrate them with uncommon skills. Whether you are buying, selling, or investing in real estate, if you are not doing business with John Hrisco & Associates, you are losing money.
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