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Veterans' News & Updates
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Contact a Loan Expert Today! Call Toll Free 888-254-8022 |
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Why Get a VA Loan?...
With a VA Loan, you
can get a loan with no down payment, a fixed interest rate that
is good as-or better than conventional mortgage rates, and much
more... |
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**Why
The VA Hybrid Is A Great Option:
Now At 3.25%**
Purchasing with a VA Home Loan
| Whether you are a first-time homebuyer, or are
experienced with the VA Home Purchase process, buying a home is
one of the most important decisions you will ever make.
This department is here to assist veterans and their families
with their VA Home Loans. Our knowledgeable and experienced VA
Loan Specialists will help guide you through the loan process.
Their objective is to make the process of obtaining your VA
Mortgage Loan as easy as possible. |
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For more information, please feel free to
Make an
Inquiry with Our Specialists online or call us at
1-888-254-8022.
If you are ready, you can
Apply Online
now with our fast and secure VA Home Loan application.
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Lower Your Monthly Payment |
Purchase with $0
Down |
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A VA Loan offers two benefits that will
substantially lower your monthly payment. PMI, or private
mortgage insurance is not required on a VA loan. PMI is an added
monthly expense required for conventional loans where the
borrower finances more than 80% of the home's value.
Interest rates are also lower with a VA Loan, typically
0.5%-1.0% lower than a conventional loan. A lower rate combined
with monthly PMI savings can substantially lower your monthly
payment as illustrated in the chart below...
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A VA Loan
is one of the only loan
programs that still allows
the borrower to finance 100%
of the home's value and
purchase with $0 down. Now
more than ever banks are
requiring large down
payments for conventional
loans. In many cases they
require 10-20% down, putting
home ownership out of reach
for many prospective buyers.
How much
will $0 down save you?
Conventional loans will
require a minimum of 5%
down, and in many cases as
much as 10% and 20%.
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| Loan Amount |
1.0% Rate Reduction |
PMI Savings |
Est. Monthly Savings |
| $150,000 |
$94 |
$115 |
$209 |
| $250,000 |
$156 |
$191 |
$347 |
| $350,000 |
$220 |
$268 |
$488 |
| $450,000 |
$282 |
$345 |
$627 |
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| VA Loan Savings at Closing Based on Conventional Loan Requirements |
| Loan Amount |
5% Down |
10% Down |
20% Down |
| $150,000 |
$7,500 |
$15,000 |
$30,000 |
| $250,000 |
$12,500 |
$25,000 |
$50,000 |
| $350,000 |
$17,500 |
$35,000 |
$70,000 |
| $450,000 |
$22,500 |
$45,000 |
$90,000 |
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