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Capped lender fees: The VA limits lender fees (like the loan origination fee) to 1 percent of the loan amount. This might mean lower closing costs compared to other loan types. Cons of a VA loan
A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and ...
To find a VA construction loan lender, start by visiting the VA website to get a list of VA-approved lenders.It can be beneficial to work with a lender who has experience with VA construction ...
Credit requirements: 620 for conventional loans, 680 for jumbo loans, 580 for FHA loans, 580 for VA loans Down payment requirements: None for VA loans Pros and cons
A VA loan certificate of eligibility provides documentation that you meet the service requirements to apply for a VA home loan. Lenders are required to obtain proof of eligibility during the loan ...
Credit score: While the government sets no minimum credit score for getting a VA loan, the individual lender, which actually approves the mortgage, probably does. If your credit score isn’t in ...
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