VA Home Loans Columbia, MO
Welcome to VA mortgage Columbia, MO. Are you a Veteran or current member of the military ready to purchase a new home? Then a VA home Loan is an excellent choice for you and your family. VA home loans are backed by the US Government as part of the G.I. Bill of rights. This is an awesome and well deserved benefit for our veterans and active military members. With 30 million veterans in the United States today only about 10% are actually taking advantage of this outstanding benefit. Two of the major advantages is that a veteran can buy a home with a 100% financing with no monthly private mortgage insurance. It is one of the few loans that do not require a down payment. With a conventional loan typically 20% is required as a down payment. If your credit is less than perfect you may still qualify for a VA loan. A recent study showed that 8 out of 10 veterans would not be able to qualify for your standard conventional loan but would qualify for a VA Loan. If you are a veteran make sure to take advantage of the VA mortgage it is an outstanding benefit. You have earned it!
Benefits of a VA Home Loan
- 100 percent financing is available
- No monthly private mortgage insurance is required.
- There is a limitation on buyers closing costs
- 30 year fixed loan
- Seller can pay up to 4% of the veterans closing costs and even pay down your debt to help lower your debt-to-income ratio
- Interest rates are lower and very similar to FHA rates
- Less than perfect credit is usually OK