There are many special grants and home buying programs for Veterans
GRANTS: Veteran’s Administration (VA)
• Eligibility: Active-duty, reservist, and retired service veterans of the United States Armed Forces
• Benefits: Low-cost loans for veterans. Zero-down payment loans for up to $417,000. Small down payment for loans up to $700,000.
Our Veterans and those in the armed forces are given special privileges when applying for home loans. Many times these far exceed what civilians are capable of getting. If you are a veteran or currently serving in the armed forces of America please contact me for options on buying Orange County real estate.
Here is some information and tips on VA loans:
- VA Home Loans are made to eligible Veteran’s by private lenders such as banks, mortgage brokers and direct lenders. The VA guarantees part of the loan so the bank or lender is protected against loss if the borrower does not make the payments and defaults on the loan. This is why many VA loans do not require a down payment.
- VA loans can usually be easy to obtain for Veterans and financing is typically not as strict. This includes 100% / no down payment financing for the purchase of a home, without having to pay monthly mortgage insurance or PMI. The interest rates will not be much different from a conventional loan.
- VA Home Loans may be used to purchase homes, town-homes, and condominiums (condos must be pre-approved) including new homes that are under construction or going to be constructed. They need to be inspected for certain safety regulations and typically must adhere to a more strict code.
- VA Home Loans are intended for personal home purchases only and are not eligible to be used on rental homes or investment properties. The Veteran borrower must certify that they or their immediate family intend to personally occupy the home within 60 days of the closing date.
For more information on VA loans or possible grants and finance programs for Veterans, please fill in how to cantact you information below. I would be happy help set you up with the right program for any houses in Irvine.