The VA Home Loan is one of the few truly 100% mortgage products still available to eligible veterans. The VA Home Plus Mortgage Bonus is a no-cost add-on that increases your cost or purchasing power.
This is done with a "bonus" dollar amount for the eligible veteran to use at his/her discretion including debt reduction, closing costs assistance, energy improvements, and more (per lender guidelines).
SEE POTENTIAL ELIGIBLE HOMES BELOW
The VA Home Plus Mortgage Bonus program exceeds similar rebate/cash back plans offered by Navy Federal Credit Union, USAA, and other local or out of area suppliers. You are credited your bonus at closing and do not have to "wait" for funds to be applied to your closing. Your amount of bonus will clearly be indicated on the buyer broker agreement so no confusion will exist.
The amount of the "bonus" dollar amount is determined by the purchase price of the property chosen by the Veteran buyer. For example:
|Veteran Property Purchase Price||Amount of Bonus to Veteran|
|Up to $99,999||$600|
|$100,000 - $124,999||$700|
|$125,000 - $149,999||$850|
|$150,000 - $174,999||$1,000|
|$175,000 - $199,999||$1,200|
|$200,000 - $224,999||$1,400|
|$225,000 - $249,999||$1,500|
|$250,000 - $274,999||$1,700|
|$275,000 - $299,999||$1,800|
|$300,000 - $324,999||$2,000|
|$325,000 - $349,999||$2,200|
|$350,000 - $374,999||$2,400|
|$375,000 - $399,999||$2,500|
|$400,000 - $424,999||$2,700|
|$425,000 - $449,999||$3,000|
|$450,000 - $474,999||$3,200|
|$475,000 - $499,999||$3,400|
|$500,000 - $524,999||$3,800|
|$525,000 - $549,999||$3,900|
|$550,000 - $574,999||$4,000|
|$575,000 - $599,999||$4,200|
|$600,000 - $624,999||$4,400|
|$625,000 - $649,999||$4,500|
|$650,000 - $674,999||$4,700|
|$675,000 - $699,999||$4,900|
|$700,000 - $724,999||$5,000|
|$725,000 - $749,999||$5,100|
|$750,000 - $774,999||$5,300|
|$775,000 - $799,999||$5,500|
|$800,000 - $824,999||$6,000|
|$825,000 - $849,999||$6,200|
|$850,000 - $874,999||$6,400|
|$875,000 - $899,999||$6,600|
|$900,000 and over||call for $$|
What can I do with a VA Government backed guaranteed loan:
1. You can buy a home, whether existing resale or new construction to be used as your primary residence
2. You can refinance to a VA loan from your non-VA loan.
3. What are your benefits of a VA Guaranteed Government backed loan?
a. The program ensures equal opportunity for all qualified Veterans to obtain a VA Guaranteed Government backed loan AND
b. Your VA loan is reusable
c. A big benefit, no down payment. The exception being unless required by the lender or the purchase price is more than the reasonable/appraised value of the property
d. A biggie – No mortgage insurance required with a VA loan
e. Yes, a one-time VA funding fee that can be rolled into the loan
f. Can I avoid the the “funding fee” – yes is if a Veteran receiving VA disability compensation are exempt from the VA funding fee
g. Protection as the VA limits certain closing costs that you may pay
h. Huge…this loan can be assumed by qualified persons as determined by VA guidelines. What does this mean..say your loan is at 3.9% and years later the rate is now 6.0%. Someone may want to assume that loan to benefit from the lower interest rate.
i. A VA appraiser will determine the minimum property requirements ensuring the property is safe, sanitary, and sound
j. 4. Are you eligible for a VA loan – are you in one of these categories?
a. Veterans who meet length of service requirements
b. Active duty service-members who have served a minimum period
c. Specific Reservists/National Guard members
d. Surviving (specific) spouses of deceased Veterans Disabilities determined by VA to be related to your military service can lead to monthly non-taxable compensation
Contact me to benefit from your VA Home Plus Mortgage bonus and start the property search.
SEE THE FOLLOWING PROPERTIES BELOW THAT MAY QUALIFY FOR THIS SPECIAL PROGRAM.
Welcome to Oak Springs, this quiet neighborhood is conveniently located to Oceana, Dam Neck and other local bases. With plenty of shopping options near Lynnhaven Mall an...
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Replacement windows. Beautifully remolded kitchen with quartz counters and custom cabinets, hot water heater 2015, newer furnace, and roof in last 8 years. Amazing deal i...
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Buyers look here first! Beautiful ranch with water views off the kitchen, den and dining room, newer roof, newer windows, nice sized backyard, spacious bedrooms, master h...