Probably one of the most talked about GI benefits is the VA Home Loan. You’ve probably heard of it, but have you ever thought of it using it? Learn what it is & how can it help you here.
Using Your Veterans Benefit to Buy a Home In Kentucky
Probably one of the most talked about GI benefits is the Kentucky VA Home Loan. You’ve probably heard of it, but have you ever thought of it using it? Learn what it is & how can it help you here.
May 31, 2019 06:00AM
- Limited or Zero Down payment for veterans
- No Mortgage Insurance monthly (there is a one-time funding fee)
- Re-Usable & Assumable by other eligible VA Mortgage buyers
- No minimum credit score
- Past Bankruptcies and Foreclosure over 2 years you can apply again
- Can be used in any county of Kentucky with a max loan limit in 2019 of $484,500
- No income limits on how much you can make
- can refinance up to 100% of the home’s value if it passed the VA Net Tangible Worksheet
- Very low 30 year fixed rate loans when compared to conventional loans
- VA loans require termite inspection on all loans.
- Get financially pre-qualified by a lender that does VA backed loans, since not all banks do them, it is best to shop around and ask if the lender does a lot of VA loans in Kentucky
- Obtain your Certificate of Eligibility (COE). The lender can help you with this.
- Find your home
- Negotiate the terms of your transaction
- Apply for your loan
Those eligible for Kentucky VA loans, should at least look into taking advantage of this benefit.
Senior Loan Officer