Loan Program
If you have VA entitlement, it is almost always the best loan available to you, and it is routinely left on the table by people who assume it is slow or that sellers will not accept it. Neither has been true for years.
This is the part that makes VA hard to beat. Every other low-down-payment loan charges monthly mortgage insurance. VA does not. On a typical loan that difference alone is worth well over a hundred dollars a month, every month, for years.
In place of monthly insurance there is a one-time funding fee, usually financed into the loan. It varies with your down payment and whether you have used the benefit before. Critically, it is waived entirely for veterans receiving compensation for a service-connected disability — and for many, that makes VA financing cost less than any alternative, full stop.
You can restore and reuse entitlement after selling, and in some cases hold two VA loans at once. VA loans are also assumable by a qualified buyer, which becomes a genuine selling point when you are trying to sell a home carrying a rate lower than the current market.
VA appraisals include minimum property requirements, so a home in poor condition can require repairs before closing — the same friction FHA has. And because there is no down payment, you start with no equity, which matters if you might sell within two or three years. VA is a superb long-hold loan and a mediocre short-hold one.
No. Full entitlement means one hundred percent financing with no monthly mortgage insurance.
Yes. Entitlement is restored after you sell and pay off the loan, and in some situations you can hold two VA loans simultaneously.
Yes. Veterans receiving compensation for a service-connected disability are exempt from the funding fee entirely.
Tyler McCain is based in Lebanon, TN and works across the Nashville metro.
Tyler McCain is licensed in Alabama, Florida, Kentucky, Ohio, Tennessee and Texas. Programme rules are federal, but the markets are not.
Low down payments, gift funds and every assistance option you qualify for.
Read more →Lower the rate, drop the mortgage insurance, or pull cash out.
Read more →One close, from the slab to the certificate of occupancy.
Read more →Financing above the conforming limit without the bank runaround.
Read more →That depends on numbers we have not seen yet. Two minutes, no credit pull, and Tyler will tell you straight — including if the answer is a different programme entirely.
