#shorts #vahomeloan #homeportresidential
What are the highest 3 execs and cons with the VA Home Loan? We’ll begin with the number one professional most vets are already know, it’s a zero cash down house mortgage. Number 2 the VA mortgage has decrease rates of interest than each standard or FHA loans. Number 3 there is no such thing as a personal mortgage insurance coverage which may prevent tons of of {dollars} in your mortgage fee each month. Now on the flip slide the number one con for the va house mortgage is the VA funding price which in 2022 is 2.3% of the overall mortgage quantity for first time consumers / veterans with out at the least a ten% incapacity ranking. This will add hundreds of {dollars} to your buy, however it might probably financed along with your mortgage. The second con for the va house mortgage is it might probably solely be used to buy your major residence, and the third con is that the VA appraisal requires all properties to be secure, sound and sanitary which suggests it’s not a very good possibility for buying what’s often known as a fixer house. For me the VA house mortgage continues to be top-of-the-line choices for veterans and I’ve used mine 4 instances all through my profession.
Scott Hodge Broker | Owner | Veteran US Navy
Homeport Residential
Call/Text Direct: 858-255-1943
Email: Scott@Homeportresidential.com
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