VA Home Loan, Is there really a benefit?
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I was reading the blog of a military member the other day and there was an ongoing discussion between the military member and a mortgage loan officer about the benefit and need of VA home loans. I have actually heard this before, so I wanted to discuss what I feel the benefits and disadvantages are.
VA Home Loan Benefits credit scores take less importance The interest rate will be lower than a typical 100% loan No monthly mortgage insurance Veterans pay lower closing costs Trustworthy appraisals
VA home loan Disadvantages VA Funding Fee Appraisals somtimes come in lower than purchase price Many realtors are inexperienced with VA loans Full documentation only (is this really a disadvantage)
In the next couple of days, I am going to write about each of these benefits and disadvantages.
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