VA Loans

A VA Loan is guaranteed by the Department of Veterans Administration, and

1. You can get 100% financing,

2. The ratio is 41% toal debt to income,

3. A VA Funding Fee of 2% for first time use,

4. A VA Funding Fee of 3% for subsequent uses,

5. VA Funding Fee can be added back to the purchase price for the loan amount,

6. Persons eligible include,

A) Active military persons,

B) Someone who has been in the service for 2 years and honorably discharged,

C) Widow of a veteran that died as a result of injuries/illness suffered while in active military