VA Loans

VA Loans, which are backed by the US Department of Veteran Affairs, were designed to make homeownership more accessible to Active Duty military and veterans.  With the 0% down option available, almost 90% of VA loans are obtained without a down payment.

VA borrowers purchasing a home without a down payment can shop for home values within the conforming loan limits for their area ($510,400 in most counties).  Although some of the closing costs may get rolled into the loan, it is important to keep them in mind as they can add up for a few thousand dollars. 

In addition to the standard closing costs, the VA also charges a Funding Fee. However, if you've sustained a service-related disability, you may be able to get the fee waived. This fee is a percentage of your loan amount, which changes depending on the size of the down payment. For first-time borrowers with no down payment, the VA Funding Fee is 2.3% of the loan amount.

 

Loan product details are subject to change so be sure to check with your Sovereign Mortgage Investments LO for the latest information.

Loan product details are subject to change so be sure to check with your Sovereign Mortgage Investments LO for the latest information.

Buying a home is one of the most important investments you'll make. Let us put our experience to work for you.

 

We shop multiple lenders to find the best options and most competitive rates available to our clients. 

Ready to get started?

Beautiful Private House in the Suburb

Douglas Kennell

NMLS #364758

Sovereign Mortgage Investments, Inc.

NMLS #222681

doug@financebydoug.com

(239) 542-6224

Cape Coral, FL 33904

  • LinkedIn
  • Facebook
  • Instagram
  • Twitter