The basic information about VA financing for current and former military members.
One of the areas I specialize in is working with military clients, and I’ve received the designation of military relocation specialist. As part of that designation, I have a good understanding of the processes and procedures involved in working with military clients and VA financing.
To help me explain a little about VA financing, Ryan Paquin of First Home Mortgage is back as my guest today. For the last 20 years, Ryan has helped veterans and active-duty military members purchase homes, and as the son of a military veteran, he has first-hand knowledge about what it’s like for military families.
To qualify for a VA loan, you need to have spent a certain amount of time as an active-duty service member, reservist, or national guard member. With a VA loan, you receive 100% financing, meaning you don’t need a down payment; the only thing you’ll be responsible for at closing are the closing costs.
Another great thing about VA loans is that you’re not required to pay mortgage insurance as you would on a conventional, FHA, or USDA loan. All you’re charged is a VA funding fee, which is financed into the loan, but you’re exempt from that if you receive any VA disability payments.
We can currently get you VA financing with a credit score as low as 620, and the interest rates are the lowest out of all the programs available. The VA loan is the best loan on the planet, according to Ryan.
If you want more information about VA financing or want to know if you’re eligible, please don’t hesitate to reach out to Ryan at (443) 377-1589. He would love to help you.
If you have any questions about relocating as a military member or concerning real estate in general, you can reach me at (301) 385-4853. I’d be happy to speak with you.