The VA Loan Advantage
The VA home loan has multiple benefits and in nearly all cases it will be the best loan option for qualified veterans to purchase or refinance a home.

One of the best features of the VA Home loan is that in most situations, there will not be a requirement for a down payment. Thus, current and former members of the US armed services who have VA loan eligibility and meet the loan qualification guidelines; can realize the American dream of homeownership without the need to save for a down payment. If a veteran chooses to finance a home where the purchase price exceeds the county limit however, there will be a requirement for a down payment.

Unlike other mortgage options such as FHA or conventional that require some type of mortgage insurance when purchasing a home with limited or no down payment, the VA home loan does not have any mortgage insurance. In lieu of such a guarantee to the bank financing the loan, the VA charges what is known as a funding fee. The VA funding fee can be paid in cash or financed at the time of closing. By comparison, the VA loan with the funding fee considered is by far more affordable than other loan options.

In addition to the fact that the VA loan does not require any mortgage insurance, it is one of the most affordable loans available. The interest rates on a VA loan are always quite favorable in comparison to a conventional loan and the VA offers both fixed and adjustable rate mortgage options. When compared to renting, the monthly payment of a home financed with a VA loan will typically be comparable or better.

Contrary to somewhat popular belief, a qualified veteran can use their VA entitlement to purchase or refinance a home throughout their lifetime as long as their previous loan was paid off properly. Upon subsequent use, the funding fee increases from 2.15% to 3.3%; unless the veteran has been determined by the Department of Veteran's Affairs to have a service connected disability. On an Interest Rate Reduction Refinance however, the funding fee is only .5%; unless the veteran has been determined by the Department of Veteran's Affairs to have a service connected disability in which case it doesn't apply.

Our VA mortgage specialists are ready to answer all of your questions 7 days a week:
Call us directly: 866.387.9148
Text us directly: 619.623.0633

"Proudly Helping Veterans Achieve the American Dream"

Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. This licensee is performing acts for which a real estate license is required. C2 Financial is licensed by the California Bureau of Real Estate: Broker # 01821025. NMLS # 135622. California Bureau of Real Estate #01326712, NMLS #84095. Oregon Division of Financial Regulation License #4917 and #84095, Washington Department of Financial Institutions License #MB- 135622 and #MLO-84095, Colorado Department of Regulatory Agencies MLO License #100508568, Florida Office of Financial Regulation License #MBR 487 and #LO47057. *Closing costs are paid with additional yield spread premium which is the revenue paid to a mortgage broker for providing a borrower with a higher interest rate on a mortgage loan in exchange for lower up front costs.
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Christopher Murphy - Loan Consultant
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