Kentucky VA Mortgage Loan
Created to help more veterans buy their first homes at an affordable cost, the VA loan packs a lot of bang for the buck. From its flexible and generous lending requirements to its low interest rates and closing costs, VA loans are one of the most popular choices among first-time homebuyers with a military background.
Perhaps the biggest advantages to a VA loan are the 100 percent financing (no down payment necessary) and no mortgage insurance requirement. Both of these benefits can save you big bucks now and hundreds of dollars over the life of the loan.
Benefits at a Glance at Kentucky VA Mortgage Loan
No down payment required – 100% financing
Flexible credit and qualifying guidelines – you don’t need to have perfect credit to qualify
Lower interest rates – typically well below most conventional loan options
No monthly mortgage insurance
Finance the funding fee – ability to roll the funding fee into your loan
Seller can pay up to 4% closing costs
Gift money can be used for closing costs and pre-paid items
No pre-payment penalty - sell or refinance anytime without paying a penalty
100% cash-out refinance, including the funding fee: Use your home’s value and pull cash out to pay off debt, make repairs to your home, remodel or spend otherwise.
