Military Housing Assistance Fund (MHAF) helps military families to become homeowners by helping them acquire Veterans Closing Cost Grants, but you may be wondering, “What are some of the benefits of a VA Loan?” We answer this below.
1. A VA Loan requires no bottom line credit score.
2. There is a 100% cash-out refinance up to FHFA’s conforming loan limits.
3. No pre-payment penalty
4. Fixed and adjustable rate mortgages
5. A VA Loan can yield zero monthly mortgage insurance premiums.
6. There is 100% financing up to the Federal Housing Finance Agency (FHFA)
annual conforming loan limits, as adjusted by county.
7. Seller can assist with standard closing costs
8. Streamline VA to VA Interest Rate Reduction Refinance Loans.
Contact us by filling out the form on our home page for more information about securing a Veterans Closing Cost Grant for your home, now.
Information via va.gov
We doubt you need to know what a VA loan is, but we never like to make assumptions! Therefore, if you are not sure what VA Loans are, please take a moment to catch up on this explanation by Wikipedia:
“A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment. Eligible areas are designated by the VA as housing credit shortage areas and are generally rural areas and small cities and towns not near metropolitan or commuting areas of large cities.” Read More of This Article