Use your VA loan to buy a home with no down payment. The Department of VA recently increased the Maximum Guaranty Amount for veteran home loans to as much as $729,750. That's great news for VA Jumbo Loan borrowers!
See how little red tape there really is in getting a
VA loan through the VA Home Loan Program. A veteran mortgage often requires no downpayment and frequently offers
lower interest rates than ordinarily
available.
FREQUENTLY ASKED QUESTION # 25 [ -more VA Loan questions- ] - - - - - - Q: Co-signers on VA Loans / Can I bring on a co-signer on my VA home loan?
A: It's true that the legally married spouse of a military member or veteran can co-sign a VA loan. There is no "penalty" for doing so, the veteran loan is still fully guaranteed by the VA. Two unmarried military members are also able to co-sign on a VA loan with the same results. When a military member or veteran wants to bring an unrelated, non-military cosigner, the VA allows this with one major exception. The VA guarantee is limited to the amount of the veteran's interest in the property. Some companies won't allow these types of "mixed" loans, so you may have a bit of shopping around to do before finding a lender willing to work with you. If you find yourself in this position, give yourself plenty of extra time to hunt for the right lender.
VA Loan Rates
for 7/04/2009
30 year fixed
-----------------
0.000 points
5.500%
5.610% APR
15 year fixed
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0.000 points
5.500%
5.686% APR
Serving the military community with personal loans from $500 to $10k.