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VA

 Features

  • Available to veterans with certain criteria.
  • Typically 100% financing (must meet certain criteria) and seller can pay closing costs
  • No monthly mortgage insurance and higher qualifying ratios than conventional financing.
  • More liberal underwriting criteria than conventional financing.
  • Automated underwriting is available for this product.
  • Interest May Be Tax Deductible

Benefits

  • Provides special financing for veterans to get into homes or refinance their existing home.
  • Allows the customer to purchase a home with less money due at closing.
  • Allows the customer to qualify for more.
  • Allows the customer to obtain financing if they have more unique credit, employment and/or asset situations.
  • Allows customer to obtain faster loan approval.
  • Depending on customers tax situation the interest paid on this loan may be tax deductible saving them even more money. Please recommend they discuss this with their accountant.

Who does this product benefit?

  • Customers that are veterans or are married to a veteran.
  • Customers (veterans) that don't have a lot of funds to bring to closing.
  • Customers (veterans) that need a quick pre-approval.
  • Customers (veterans) with a higher debt ratio.
  • Customers (veterans) with less than perfect credit, VA tends to be more lenient.
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