Advantages of Using a VA Loan
Many of the buyers in Clarksville TN have had prior military service and qualify for a VA loan. I am quick to explain the benefits of using their VA loan and why so many home buyers choose to go that route. First you have to make sure you have VA entitlement and you have enough entitlement left to buy the house you want. See if you qualify here.
The advantages of getting a VA loan are known to many. Sellers need not be afraid of a VA buyer or that the property will be put through the wringer. If a property will qualify for an FHA loan chances are excellent that it will qualify for a VA loan. In some cases a VA buyer can be preferable to buyers using other financing.
- Zero down payments are required on VA loans
- There is no mortgage insurance (MIP or PMI) required
- Credit standards are more relaxed than on conventional financing
- VA loans never expire
- You can use your VA loan over and over
The borrower must use the loan to finance their primary resident and they must intend to occupy soon after closing. More good news in Clarksville, TN is that sellers are prepared to help pay part of the closing costs and in some cases all of them. Why wouldn't you want to buy when you have so little cash investment?
Some VA buyers must pay a VA funding fee unless they have exempt status. Read more about who is exempt and what the funding fee is all about. But still there are definite advantages of using a VA loan.
If you want to learn more about the VA loan and find out if you qualify contact Clarksville TN Real Estate Agent Debbie Reynolds, 931-320-6730.
2130 Wilma Rudolph Blvd.
Clarksville, TN 37040
it would be my pleasure to assist you!
"The Real Debbie Reynolds"
931-771-9070 Office | 931-320-6730 Cell