Did you know a veteran can purchase a home in the Bay Area with 100% financing up to $625,500 and with 90% financing to over $1 million? VA loans do not have any monthly mortgage insurance and rates are around 4% within the lender credit to cover the funding fee.
What a wonderful option to put a veteran in a home with little or no cash to close. We recently completed a transaction in Tracy where our client got into their $417,000 home for $137 … It happened that the borrower had a service related disability which reduced the funding fee, and the lender credit was sufficient to cover impounds.
Too often VA loans are lumped in with FHA loans as expensive and thinking there are restrictive property requirements. That is not the case and properly utilized can really be a benefit to our veterans.
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