Transcribed

FHA vs VA Loan Requirements

VA LOAN vs FHA LOAN Which loan option suits you ? VA LOAN NO DOWNPAYMENT REQUIRED VA FUNDING FEE REQUIRED NO MONTHLY PRIVATE MORTGAGE INSURANCE REQUIRED GREAT OPTION FOR VETERANS AND MILITARY SERVICE MEMBERS FHA LOAN REQUIRED DOWNPAYMENT UPFRONT MORTGAGE INSURANCE MONTHLY PRIVATE MORTGAGE INSURANCE REQUIRED GREAT OPTION FOR FIRST TIME HOME BUYERS fhalend

FHA vs VA Loan Requirements

shared by peter35 on Jun 13

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One of the factors that really went in creating the VA Loan Program was to streamline the complexities for Veterans applying for a VA Loan with low credit by the following: Being able for the veteran... to qualify for VA Loan with low credit or less than perfect credit Reduce hassles of getting a mortgage loan Making the home buying process affordable by requiring no down payment Allowing sellers concessions for Veteran home buyers of up to 4% This is so home buyers do not have to come up with any closing costs out of pocket If home sellers will not give sellers concessions, the Lender can offer lender credit in lieu of a higher mortgage rate VA Funding Fee can be rolled into Loan so no money out of pocket.

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Pete Bee