VA loans are better than ever in 2020!
The VA has announced additional benefits for veterans seeking a home loan. Talk to us about our VA Home Loan Advantage today!
New Benefits Include:
• Purple Heart - If you are an active duty Servicemember who has earned a Purple Heart, your funding fee can be waived if you close on your home while still serving on active duty.
• Higher Loan Limits - Veterans will have greater access when using their no-down payment home loan benefit. The VA no longer follows conventional loan limits and will now allow loans up to $1.5 million.
• Native American Direct Loan - The new law removes the loan limit of $80,000 for Veterans using their entitlement for a VA Native American Direct loan to build or purchase a home on Federal trust land. Eliminating the loan limit enhances access to home loan benefits for Native American Veterans.
Additional benefits of our VA Home Loan Advantage program include:
• No first-time homebuyer education requirements
• No income limits
• We will consider credit scores as low as 620
• No origination fee (up to $1185 value)
• No appraisal fee (up to $650 value*)
*Values vary from market to market. Speak to your mortgage consultant for exact value.
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