fbpx
Helping our Veterans Find Homes

Helping our Veterans Find Homes

Contra Costa County Real Estate | East Bay Homes

Helping our Veterans Find Homes

Posted by marketing
28 February 2018 | Blog

Last week we discussed the challenges our educators are having getting into a new home, this week I want to focus the discussion on our brave veterans. Similar to those for teachers, there are programs to help our Vets.

Veterans Find Homes with Down Payment Assistance

As with most programs, they are designed to help with one of the biggest issues for Vets and other first time homebuyers: the down payment. With conventional loans, Veterans can get away with only making a 5 percent down payment. However, with a down payment of anything less than 20 percent then the home buyer would have to pay private mortgage insurance. In order for an individual to purchase a $500,000 home, they would have to make a $100,000 down payment. The Veteran can likely then afford the monthly payment, there is little chance that they have $100,000 lying around.

VA loan programs are designed to help with this issue as they offer zero percent down payment options. With a new home purchase loan or a cash-out refinance, Vets would still have to cover any closing costs although some loans allow you to roll this into the loan. An additional advantage of such programs is that the VA loan program does not ever require any mortgage insurance, which helps keep their the mortgage payments lower. Despite such, there is a VA funding fee that is paid in advance. This charge maybe waived for service members with service-related disabilities.

Lower Interest Rates

Beyond the down payment, VA loans have another benefit. They have lower interest rates, usually lower than conventional loans. This can turn into thousands of dollars in savings. Thus, the following are the main benefits of VA programs:

  1. No down payment
  2. Lower interest rates
  3. No Mortgage Insurance
  4. Closing costs can be included in the total loan amount

The Laura Wucher Team appreciate our Veterans and love to help them find the homes of their dreams. Contact us today to schedule your free consultation.

.

Related Articles

Paws for a Cause
Posted by thesph3r3 | 07 November 2019
Check out these photos from our recent ARF event, Paws for a Cause, on 10/26.
351 Ridgeview Drive
Posted by thesph3r3 | 11 October 2019
What is real estate investing? Real estate investing is the purchase, ownership, rent, or trade of land and any structure on it in order to earn wealth over time. It...
Paws for a Cause, Laura Wucher, Laura Wucher Real Estate Team
Posted by thesph3r3 | 09 October 2019
Join us this month at our Paws for a Cause event! We hope to see you there! Saturday, October 26, 2019 | 11am to 1pm | Pleasant Hill, CA Click...