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Dharmesh Raheja

VA Loans

Saturday, February 25, 2012 - Article by: Dharmesh Raheja - Financial Services - Message

VA Loans

Department of Veterans Affairs home loans (VA), is a popular option for an active or veterans service members to purchase their homes and it has very good reasons. The loans require no down payment and are available from most lenders. In addition, the government limits the amount of closing costs, origination fees, as well as the appraisal fees which the lenders usually charge.

VA Loan Eligibility Requirements includes one the following:

? Served 181 days during peacetime (Active Duty)
? Served 90 days during war time (Active Duty)
? Served 6 years in the Reserves or National Guard
? Spouse of a service member who died while in service

The VA loan allows veterans 103.15 percent financing without private mortgage insurance and up to $6,000 for energy efficient improvements. The funding fee is 0 to 3.15% of the loan amount which is paid to the VA or it can be financed.

Call us for any question regarding your home loans and we will be able to assist you.

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