One advantage to having served our great country is the VA Home Loan.
This is a 100% Loan - Plus the VA Funding Fee.
-
2.15% First time use and no down payment
-
3.3% Second time use and no down payment
-
0% for Disabled Veterans with service-connected disabilities.
-
If you do have a down payment, the funding fee can be reduced based on the amount of down payment. You lender can provide more details on this.
-
Rates vary for Reservist and National Guard members.
-
2.4% First time use and no down payment
-
3.3% Second time use and no down payment
What are the advantages of a VA Home Loan ?
-
100% Financing
-
No PMI - Private Mortgage Insurance
-
Seller can pay ALL Closing Cost and Pre-Paid Items (Pending terms of your negotiated contract)
Can someone have more than One VA Loan ?
Answer: YES
-
Based on credit approval and the Sale Price of the 2nd home.
Who can use a VA Home Loan ?
This can vary depending on the time of your service dates.
-
Wartime Service
-
WWII
-
Korean War
-
Vietnam War
-
-
Peace time Service period as follows:
-
7/26/1947 to 6/26/1950
-
2/1/1955 to 8/4/1964
-
5/8/1975 to 9/7/1980 (Enlisted)
-
5/8/1975 to 10/16/1981 (Officer)
-
Service after 9/7/1980 (enlisted) or 10/16/1981 (officer)
-
Gulf War - Service during period 8/2/1990 to date yet to be determined
-
Active Duty Service Personnel
-
Selected Reserves or National Guard
Click here for a complete list of the Military Service Requirements for VA Loan Eligibility. for a link to the Department of Veteran Affairs website. Here you will get all the specific details of each group listed above.
Click here to see ALL homes For Sale in Clarksville, TN and Oak Grove, KY and the Surrounding areas. If you are not ready to Purchase a home at this time, we also offer Rentals as well until you are ready to find that perfect home.
Roland Woodworth is a Realtor licensed in both Tennessee and Kentucky.
In Montgomery County Tennessee and Christian County Kenucky (Fort Campbell, KY) your VA Loan can purchase a home up to $417,000.00
Information in this post and links via the Department of Veteran Affairs website. VA funding fee may change in the future.
**************************************************************************************
Think Clarksville * Think Fort Campbell * Think Real Estate * Think Roland
Licensed in both Tennessee & Kentucky. Please don't keep me a secret, if you know anyone looking to BUY or SELL, Please send me their contact informtion and give them my name and number.
View my website at Clarksville Home Information or Fort Campbell Housing
Roland Woodworth is a member of NAR's Short Sales & Foreclosure Resource
Roland Woodworth, REALTOR ® Exit Realty Clarksville
Call: 931-320-9411
E-Fax: 866-596-2172
Clarksville TN Homes For Sale, Clarksville TN - Roland Woodworth, REALTOR
I specialize in helping families relocate to and from the Clarksville, TN and Oak Grove, KY - Fort Campbell, KY and the surrounding areas. I have the tools to market your Home For Sale including New Construction, Short Sales, Foreclosures, Distressed Properties. I'm a US Army Verteran still serving the Clarksville, TN amd Ft Campbell, KY area. Looking to sell your home,give me a call at 931-320-9411
TN Lic # 273649 - KY Lic # 57120
Keller Williams Realty
2271 Wilma Rudolph Blvd. Clarksville, TN 37040
Each Keller Williams Office is Independently Owned & Operated
**************************************************************************************
Good info, Roland, thanks for putting it out there. I used to use VA loans all of the time, more than 50% of my transactions in Calif were with VA loans.
Virginia: Thank You.. We do many VA Loans in our area with Ft Campbell in our back yard.
Great information Roland. I will tell all my fellow vets about this...
Your building consultant for life in Nashville, TN
Roland, this is very useful information. Even as an agent, I don't get that many of these....have one now though. Thanks for sharing...;-)
Michael: Thank You !
Teri: VA Loans are not dificult at all. Good luck on your VA Loan !
Thank you for posting the VA Home Loan info Roland. As an Army Daughter, Spouse, Mother and Mortgage Consultant, I also do my best to share possible benefits for the Veteran and their families. I'd like to add a few items of interest to your post.
Surviving Spouses of a Veteran May also qualify for the VA Home Loan. Sadly, this is much more common today. We have such a great responsibility to the Veteran, Surviving Spouses and their Children. See Federal Benefits for Veterans Dependents & Survivors Guide. Chapter 11 is a brief outline for the Loan Guaranty. The guide also lists many helpful phone numbers and websites. http://www1.va.gov/opa/vadocs/fedben.pdf
No PMI - Private Mortgage Insurance: Although VA Mortgages do not carry PMI, the VA Funding Fee is currently considered a Premium for Mortgage Insurance by the IRS and may be tax deductible. Always consult a qualified tax professional on individual qualification. http://www.irs.gov/newsroom/article/0,,id=202593,00.html
Lori: Thank You for stopping by and adding additional information.