VA home loan?

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I want to know a couple of questions about the VA home loan. I know with VA you don't have to put any money down. But what about the closing costs?

VA home loan?

VA home loans are a unique way of extending support to the US war veterans, who committed their lives in safeguarding the interests of the country. Therefore, understanding these loans is beneficial. VA housing loan program provides financial assistance to veterans so that they can purchase home at a favorable rate of interest and convenient loan terms. Loans provided by the VA are fixed<!–interest mortgage loan that do not require any down payment. These loans are provided to all eligible veterans, regardless of their age, color, race, sex, religion, familial status, nationality or handicap.

http://badcreditloans.awardspace.com/Easiest_Way_to_Get_a_Home_Loan_with_Bad_Credit.html

No prepayment penalties and long amortization terms are another advantage of these loans. Houses provided under VA housing loan programs are duly inspected at the time of construction and require a warranty from the builder. The foremost step is to locate a suitable–>property in a safe locality. Next, the veteran has to go to a lender and apply for a home loan. VA guaranteed loans are provided by private lenders that include banks, mortgage companies and savings and loan associations. No prepayment penalties and long amortization terms are another advantage of these loans.

At the beginig my friend who is also looking for house loan has different questions in his mind he also want my help beause i am working in bank.
But i find out there is more helpful body for him is this company that will not help him but also show him right way about laons here is the web that will help you also best regards

Closing costs are part of the home purchase regardless. Shop around for the best deal, and get good faith estimates. Using a site like lendingtree.com will help you out without a lot of work on your part. There are some lenders out there that really make it easy for veterans to use their benefits and others don't want anything to do with it.

If you are using your VA loan eligibility you will need to get the certificate prior to closing to show that you are eligible. There will be an associated funding fee based on whether you have used the benefit before or not. {If you are receiving any type of VA disability, your funding fee will be waived, which could save you a lot of money.} The rules have recently changed, so you are no longer limited to only qualifying for a loan less than $417,000. However, that will require you to pay 25% of the amount above $417K.

http://www.homeloans.va.gov/

Here is a website to check and you will get some of your answers. If you are looking for a VA friendly lender, I would recommend National Bank of Kansas City. They were great with my recent home purchase.

http://www.bankofkc.com/

When my wife and I used a VA loan we negotiated for the seller to pay closing cost…aside from how you get the loan much of the process for paying for the house is the same. Before the VA would approve us they did inspect the house and it had to pass their standards. In our case the type of roof that was on the house didn't meet the VA standard, (I'm not a contractor/house builder so I don't know anything about their construction details) and they told us that if we wanted the loan that the roof had to be brought to standard, so either the seller had to pay for the work to be done or we did, again, something that was negotiated for without VA involvement. So, except for telling us how large of a loan we were eligible for, and inspection of the house, we had very little to do with the VA, we just delt with the normal "house people."

It is a VA HOME LOAN Guarantee
It is not a LOAN…

Most times you end up Paying Points…
How many points depends upon the Lender
so shop around…
Which are Due at Closing !!!!

Suggest you surf the Web…

eg: VA Mortgages with No Points ???
Look at the ones with the LOWEST INTEREST RATES…
Deal with Banks if you can…

WARNING…READ EVERY WORD ON THAT DOCUMENT
as it is Buyer Beware !!!!

Do your "Due Diligence" yourself…
Best to Hire your own "Home Inspector"
it could save you Thousands in Repairs…

Watch for the Bait and Switch of interest rates…
It usually happens when you are emotionally upset
with buying a House…
They just slide those papers over to you to sign…
Here sign here, here and here…
CHECK the interest RATE…"BEFORE SIGNING anything…

Do Not get anything other than a 15/30 year
mortgage with the Interest rate guaranteed for the
Life of the Loan…

Do not miss or be late with a single payment !!!!

GET A GOOD LAWYER…
Ask around you will find out who is good and who isn't…
People will tell you in a Heart Beat especially if they
have been burned by one…

DO NOT EVER use the sellers Lawyer !!!!

Take NO ONE at their Word…
Make sure anything and everything no
matter how minor is in writing and signed
and witnessed by both parties…

Do NOT get rushed into anything…
Do Not be afraid to say "NO"…

You can find information on the following site:
<p><a href="http://www.veteranlending.com">Vet… Lending</a></p>
<p><a href="http://www.howcaniapplyforavaloan…. To Get A VA Loan</a></p>
<p><a href="http://www.refinanceloanrate.com/t… Loan Rates</a></p>

There are closing costs, but generally less than conventional mortgages and if buying usually the seller will agree to pay. The mortgage broker is limited to 1% origination, no commitment, processing, or application fees (saving about $1000). You'll still have to pay appraisal, credit report, taxes, insurance, title exam and other basic fees but there are some savings with doing VA in terms of closing costs. And remember unless you're disabled you will have to pay up front or finance the funding fee.

i recommend to you to not take loan assuming that you truly do not need to. It's simply wrong economic choice that you probably will regret in future, but in case you truly need to, just google zerbite loans finder. It saved me some money.

Those will or can be included into the price tag.

lepr0kan is right on the money.

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