VA Home Loan Tulsa: Benefits that Could Save You Cash

Recently, VA loans have been extended to include active duty and reservist along with veterans. This is good new for anyone in the Army, Navy, Marines, Air Force, and National Guard.

VA loans offer no down payment

With no money down, who can resist that? No money is required for loans up to $417,000. As long as the seller agrees to pay the closing cost, you can buy a home with no money out of pocket. Be sure to ask your lender about the 100% loan option.

No Insurance Fees

Most mortgages require the buyer to pay an insurance fee. However, the VA uses a Funding Fee. This fee takes the place of the traditional insurance fee and can be included in the loan. In addition, disabled veterans can get this fee waived altogether. If you are disabled don’t forget to ask the lender if you qualify for the waiver.

Bad credit not always a problem

VA loans don’t look solely at credit scores. People with bad credit that have a recent good payment history may qualify. This means that if you are paying your bills on time and have been for the last year, you may qualify for a VA loan. VA loans tend to offer a better rate than traditional loans. If you have bad credit, ask about a VA loan anyway. You just may qualify.

Finding a lender who deals with VA loans

The best option when buying a house is to find a lender who deals with multiple types of loans. A good lender should offer VA, USDA, HUD, and FHA loans along with the standard mortgage loans.

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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.

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