VA loan West Virginia is the perfect choice for many a veteran making a decision to settle after long-term contribution to national defense. While there are other similar mortgages by the government including FHA and USDA, none of these matches the special benefits that apply to this military offer.
VA Loans Center specialists are ready to spread the roller coaster of bonuses that you can save or use for other constructive purposes.
How to Utilize No Money Down
Given that every credit scheme must have a down payment; it comes as a healthy surprise that VA loan WV does not attract a down payment. It might also be possible that you have been planning to purchase a home and had set some deposit aside. You can use the extra cash in any of the following ways:
- Save it for a rainy day.
- As kitty for refurbishing the house.
- Use it to pay part of the basic monthly payments.
How to Utilize Premium Fee
Since VA loan West Virginia does not attract any Private Mortgage Insurance (PMI), veterans stand a chance to save a huge portion of the monthly premiums that apply to conventional mortgages. You can use these savings in either of the following circumstances:
- Save it depending on personal financial status.
- Use it to fund the 2.16% funding fee for first-time applicants.
- Settle some of the remaining closing costs after the seller concession of at least 6 percent of the charges.
Trust on VA Loans Center to negotiate the best interest rate for your VA loan WV.
Take Advantage of Refinance Benefits
All loans you apply via VA Loans Center may also qualify for future refinance and the various benefits that come with it. You have two options to consider that include:
- Refinancing down the amortization term through the Interest Rate Reduction Refinance Loan (IRRRL) which may even bring down the rates further, leading to great savings.
- Settling on the Cash-Out Refinance plan to help you tap the equity that will pay a huge part of your VA loan West Virginia. This is another bonus for you!
Eligibility for VA loan West Virginia
If you have served for 90 or 181 days consecutively in a war zone or during peacetime, respectively, you are eligible for the mortgage. Other qualifications include:
- You have been discharged from your infantry for general or honorable reasons.
- You have managed to acquire the most important document in the VA loan WV process, the Certificate of Eligibility (COE).
- You are a widow or widower of a deceased veteran.
Apply VA loan West Virginia Now
This is the best time to make the dream of owning a home come true thanks to the current low rates and the incredible benefits of this VA loan. Talk to us today, let us get you started.
Helpful Links