VA Financing Built Around the Benefits You Earned
VA loans can offer powerful financing options for eligible veterans, active duty service members, and certain surviving spouses. I’ll help you evaluate your eligibility, available entitlement, monthly payment, property, and overall loan structure to make the most of your VA benefits.
What Is a VA Loan?
A VA loan is a mortgage program backed by the U.S. Department of Veterans Affairs for eligible veterans, active duty service members, and certain surviving spouses. VA financing can provide significant benefits while still requiring the borrower, property, and loan to meet applicable guidelines.
1.
No Down Payment May Be Required
Eligible borrowers may be able to finance up to 100% of the purchase price, subject to VA and lender requirements.
2.
No Monthly Mortgage Insurance
VA loans do not require monthly private mortgage insurance, which can make a meaningful difference in the overall housing payment.
3.
More Than a First Home Benefit
VA eligibility can potentially be used more than once. Depending on your remaining entitlement and situation, you may even be able to have more than one VA loan at the same time.
DAN’S STRATEGY
A VA loan is a benefit, but that doesn’t mean every VA loan should be structured the same way. I look beyond the zero down payment option and evaluate entitlement, available cash, monthly payment, funding fee, property, and the borrower’s longer term plans.
VA benefits can also become part of a bigger housing strategy. An eligible veteran may use VA financing again in the future, and depending on entitlement and the specific situation, owning another property does not necessarily mean the VA benefit is no longer available.
My job is to help you understand the benefit you earned and structure it around what you’re actually trying to accomplish.
VA Isn’t Necessarily a One Time Benefit
Many veterans are surprised to learn that VA eligibility may be used more than once. Whether you’re buying your first home, moving to another state, or purchasing another primary residence later in life, I’ll evaluate your available entitlement and financing options before assuming you need to sell your current home or use a different loan program.
What I Look at Before Recommending a VA Loan
1.
Eligibility & Entitlement
I review your VA eligibility, available entitlement, and any previous use of your VA benefit to understand the financing options available.
2.
Cash & Loan Structure
Zero down may be available, but that doesn’t automatically make it the best strategy. I compare your available cash, payment, loan amount, and overall financial goals.
3.
Funding Fee & Total Payment
I evaluate the VA funding fee, any applicable exemption, taxes, insurance, and other costs so we’re comparing the complete financing picture.
4.
Property & Future Plans
The property, occupancy, existing real estate, relocation plans, and how long you expect to own the home can all influence how I structure the loan.
Let’s Make the Most of Your VA Benefit
Your VA benefit gives you options. The goal is to understand those options and structure the financing around your home, your finances, and where you want to go next.