Military Celebrates New VA Home Loan Tulsa OK Laws
Those looking for a no down payment mortgage loan are in luck. Changes in VA home loans in Tulsa, OK make more military personnel eligible for VA loans. New laws now make the active military eligible for VA loans along with veterans.
The benefits of VA home loans are many, but here are just a couple of reasons to consider a VA home loan.
#1 No down payment
This is the number one reason people seek out a VA loan. The average down payment on a home often means people simply can’t afford a home. Since VA loans finance 100% of the home loan, homebuyers will not need to put down any money for the house.
#2 Reasonable Fixed Interest Rate
A VA loan will have a higher fixed interest rate than a traditional loan. However, this rate is generally only ΒΌ to 1% higher than the average rate. When you factor in the no down payment, this higher rate is often worth it. After all, if the down payment prevented you from getting a home then a slightly higher rate is no big deal.
#3 Skip the Insurance Fees
Unless you can afford to put down 20% on your home, you would have to pay an insurance fee for your house on a traditional loan. VA loans have their own fund, which is added into the mortgage. In addition, some disabled veterans can have the fee waived.
Veterans and military personnel are encouraged to check out VA loans in Tulsa OK. The money you save with a VA loan could be the difference between owning your home and not.
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Today Lending (www.TodayLending.com) is owned by Chris and Kelly Davenport and is one of the top home lending institutions in all of Oklahoma and Texas. Chris and Kelly Davenport are also top real estate consultants in Tulsa, Oklahoma and own The Davenport Company (www.DavenportCompany.com) which services home buyers and sellers in the Greater Tulsa region. Contact Chris anytime at (918) 340.0010 for more information.