VA Loan Benefits in Today's Market
Post date: Jun 19, 2012 11:19:24 AM
Week of June 18, 2012
The VA program won't deny a loan based solely on a low credit score, and most lenders don't tier interest rates for better scores. The VA program usually looks at only the previous 12 months of credit history, unless bankruptcy, a tax lien or a collections situation factors into your situation. Additionally, the VA home mortgage loan doesn't require a down payment. Borrowers can often refinance to a lower rate within the VA program without re-qualifying for the program through the VA Streamline Refinance Loan. If the borrower has a service-related disability, they may qualify for the lender to waive the funding fee, further reducing closing costs. Get more information on the benefits of the VA Loan.