VA helps Servicemembers Veterans and eligible surviving spouses become homeowners.
Buying a home is a process. It requires a combination of filling out forms, verifying your ability to pay, and meeting the interests of both buyer and seller. Here are some general questions people ask about obtaining a VA Home Loan in Grand Junction, Colorado.
The main benefits of a VA Home Loan
- No downpayment required
- Competitively low interest rates
- Limited closing costs
- No need for Private Mortgage Insurance (PMI)
- The VA home loan is a lifetime benefit, you can use the guaranty multiple times.
No, VA Purchase loans close within a few days of a conventional and FHA loans according to recent data.
Unfortunately, VA buyers cannot roll closing costs into the loan. Some buyers may negotiate for seller-paid closing costs because of this restriction.
Every VA purchase contract needs to include a VA Amendment to Contract. The purpose of the Amendment is to protect the buyer's earnest money in the case of a low appraisal.
No. VA loans with a 30 year note have historically had lower interest rates than conventional and FHA 30 year note loans
In most states, the pest inspection fee is a non-allowable loan cost, meaning the buyer is unable to pay for it. (It is an allowable fee in AL, AR, AZ, CA, FL, LA, MS, OK and TX.
Yes. The VA has issued a list of fees that buyers are not allowed to pay. A list of the VA non-allowable fees can be found in another post..
Buy a single family home, townhouse, or multi family up to 4 units.
Buy a condo in a VA approved project.
Buy a home and improve it.
Buy a manufactured home and lot.
Build a new home.
Make changes or add ne features to make the home more energy efficient.