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Benefits of VA Loan Financing
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If you are a Veteran, a VA Loan may be a great fit for you to purchase a home. The VA guarantees a portion of the approved Loan, making it easier for a lender to extend credit. There are many benefits to using your VA Entitlement to obtain mortgage financing.VA loans can still be used for purchasing a manufactured home if within HUD guidelines.
VA Loans may be used in refinance situations up to 90% of the appraised value.
VA Loans are assumable and do not have prepayment penalties. You may refinance or sell your home at any time during the mortgage.
VA Loans can be used for simultaneously purchasing and renovating a home.
VA loans allow for up to a 6% seller concession on a purchase. The seller concession can even go towards paying down your current debt in order to help you qualify.
VA loans currently allow for 100% financing for loans up to $417,000. There is no monthly mortgage insurance charge for VA financing. A one time VA funding fee is allowed to be financed into the loan amount.
Veterans from world war II to present can qualify for a VA loan as long as their discharge was honorable. Reservists must have 6 years of reserve service and either be still enlisted or have an honorable discharge. Reservists may pay a slightly higher funding fee then active duty applicants.
Benefits Of Va Loan Financing in the News:
| Another week of GW News, March 7, 2010 [A Few Things Ill Considered] (ScienceBlogs) |
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Logging the Onset of The Bottleneck Years This weekly posting is brought to you courtesy of H. E. Taylor . Happy reading, I hope you enjoy this week's Global Warming news roundup Read the rest of this post... | Read the comments on this post...
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| MCG Capital Corporation Reports Fourth Quarter and Annual 2009 Results (Business Wire via Yahoo! Finance) |
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ARLINGTON, Va.----MCG Capital Corporation announced today its financial results for the quarter and year ended December 31, 2009. MCG will host an investment community conference call today, March 4, 2010 at 10:00 a.m. .
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| VA home loan guidelines include 100 percent financing (The Providence Journal) |
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As the economy rebounds and more veterans think about a new home purchase, many will consider a home loan whose eligibility guidelines are determined by the U.S. Department of Veterans Affairs .
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| International Coal Group, Inc. Completes New $125 Million Senior Secured Asset Based Loan Facility (PR Newswire via Yahoo! Finance) |
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International Coal Group, Inc. announced today that its wholly-owned subsidiary, ICG, LLC , has entered into a new four-year $125 million senior secured asset-based loan facility which refinances its existing $100 million credit facility previously set to mature in June 2011.
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| Good News: More Money Available in Education Tax Credits and Deductions (Business Wire via Yahoo! Finance) |
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RESTON, Va.----As tax deadlines approach, college students and their parents take note: new tax rules may help you keep more money in your pocket. Taxpayers who paid college tuition or interest on student loans for themselves or their children should ensure they are taking advantage of tax savings, says Sallie Mae, the nation’s leading saving, planning and paying for education company.
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