Boca Coastal Properties is experienced in negotiating purchase transactions for the benefit of VA Eligible buyers. To learn all about this wonderful home buying benefit, call us. We’ll help you make your dreams happen using your hard earned benefits to your advantage.
Below are some pertinent facts concerning VA Financing features and benefits.
WHAT IS A VA GUARANTEED LOAN?
A VA-guaranteed loan can be used to:
- buy a home, either existing or pre-construction, as a primary residence
- refinance an existing loan
BENEFITS OF A VA GUARANTEED LOAN:
- Equal opportunity for all qualified Veterans to obtain a VA loan
- Reusable
- No down payment (unless required by the lender or the purchase price is more than the
reasonable value of the property)
- No mortgage insurance
- One time VA funding fee that can be included in the loan
- Veterans receiving VA disability compensation are exempt from the VA funding fee
- VA limits certain closing costs a Veteran can pay
- Can be assumed by qualified persons
- Minimum property requirements to ensure the property is safe, sanitary, and sound
- VA staff dedicated to assisting Veterans who become delinquent on their loan
WHO IS ELIGIBLE?
Generally, the following people are eligible:
- Veterans who meet the length of service requirements
- Service-members on active duty who have served a minimum period
- Certain Reservists and National Guard members
- Certain surviving spouses of deceased Veterans
Disabilities determined by VA to be related to your military service can lead to monthly non-taxable compensation, employment, and other important benefits. Ask your VA representative or Veterans Service Organization representative about Disability Compensation, Pension, Health Care, Caregiver Program, Career Services, Educational Assistance, Home Loan Guaranty, Insurance and/or Dependents and Survivors’ Benefits.
Note: There are other groups of individuals who may be eligible. To determine your eligibility, check eBenefits.va.gov or call VA at 1.877.827.3702.