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VA Home Loan Program: It’s Flexible

VA Home Loan Program: It’s Flexible

September 29th, 2017 | VA Loans, Home Buying Tips

The VA home loan program has many benefits. One you may not know about: There’s no specific waiting period after a short sale to apply for a VA loan. Other home loan programs have waiting periods of three or more years after a short sale to apply for another Utah mortgage.

A short sale is when you sell your home for less than the balance remaining on your mortgage. Short sales can provide a way for families with real estate issues to get a fresh start and avoid foreclosure. But selling your home via a short sale can make purchasing another home right away difficult.

The VA home loan program has flexible underwriting guidelines that can be helpful for families who have had past financial difficulties. It’s one of the ways that the loan program, designed for service members, veterans, and eligible surviving spouses, makes home buying easier. The VA home loan program also allows many borrowers to make a zero percent downpayment. There’s also no private mortgage insurance, which borrowers who make less than a 20 percent downpayment typically must pay. That nifty feature, along with a low mortgage rate, helps keep the monthly payment on VA loans as low as possible.

Want to learn more? As a Utah mortgage broker we want to help. Start by clicking here to go to our website.



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As a Utah mortgage broker we work with several different mortgage lenders, enabling us to offer you a variety of mortgage programs at the best mortgage rates and lowest fees available. Working with several lenders allows us to offer more options to help you achieve your goals. Whether you're buying a new home or refinance your current home, Advanced Funding is here to help. Our loan professionals are available to help you during regular business hours or time that is more suitable to your needs. Call today for more information, 801-272-0600.

Utah VA LOAN ADVANTAGE

Veterans Affairs mortgages, better known as VA loans, make it easier for veterans to get financing to buy a home. Utah VA loans usually do not require a down payment and are available to military veterans and active military members. The Utah VA mortgage remains one of the few mortgage options for borrowers who don’t have the money for a down payment. VA loans are somewhat easier to qualify for than conventional mortgages. It offers a great benefit to those who are serving or have served our country.

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