by Janet Nettles, Middle Tennessee Properties
The Department of Veteran Affairs offers home loan options to active military members and veterans.
The loan benefits are:
• No down payment
• No Private Mortgage Insurance (PMI) premium requirement
• VA limit the amount veterans
• Closing cost MAY be paid be seller
• No penalty for early payoff
About the loan:
• You can use benefits over and over.
• VA loans are assumable by qualified persons.
• Funding fees can be included in the loan.
• Veterans can get help on delinquent loans.
• VA guaranteed loans can be used to buy existing or re-construction, as primary residence
• Refinance an existing loan.
• Veterans who meet length of service requirements
• Service members on active duty who have served a minimum period of time
• Certain Reservists as well as National Guard members
• Certain surviving spouses of deceased Veterans
How to start the loan process:
• Veterans will need to provide lender with Certificate of Eligibility (COE)
• VA has guidelines, policy and oversight of the program
The Department of Veteran Affairs Office offers classes to learn how to obtain a loan. Call our office to register of our upcoming free class for “How to Buy a House as a Veteran.” The next class is in May. For more information, call Middle Tennessee Properties, 931-728-9611 or email firstname.lastname@example.org.
Other upcoming classes include “First Time Home Buyers” and “How to Rehab Your Credit.” We look forward to working with you and your family.