At Supreme Lending, we are dedicated to enriching the lives of Veterans, active-duty personnel, and their eligible spouses through our commitment to offer Veterans Administration (VA) loans.
We understand the unique needs of those who have served and sacrificed for our nation, and we're here to help you make homeownership a reality. In this article, we'll explore the various benefits of VA loans and how Supreme Lending can assist you in your journey to owning a home.
Low or No Down Payment Options:
One of the standout features of VA loans is the opportunity for eligible borrowers to benefit from low or even no down payment options. This means that you may be able to achieve your dream of homeownership without the burden of a substantial down payment. We understand that saving for a down payment can be a significant barrier for many, and VA loans may help to remove that obstacle.
VA loans provide eligible borrowers with the opportunity to secure 100% financing for their home purchase. This means that you may not need to make a down payment, which is a significant financial relief. It's our way of saying thank you to our Veterans, active-duty service members, and their eligible surviving spouses for their dedication and sacrifice.
Private Mortgage Insurance (PMI) and Funding Fees:
While VA loans do not require private mortgage insurance (PMI), it is important to remember that you will be required to pay a one-time funding fee to the Veterans Administration who guarantees the loan. Funding fees were reduced in April of 2023, and may vary depending on your down payment and if you're purchasing or refinancing your home. Our dedicated team is here to guide you through the loan process and ensure that you understand all the associated costs.
2 - 1 Temporary Rate Buydown:
Eligible borrowers may be able to combine a VA loan with a seller-paid 2 -1 Temporary Interest Rate Buydown. This program may help you obtain a lower monthly payment and pay lower interest for the first two years of the mortgage. On top of that, any unused buydown funds will be applied as a loan principal reduction. Your Texas mortgage professional can help you decide if a 2 - 1 Temporary Rate Buydown is right for you.
Versatility in Property Types:
VA loans offer incredible versatility for our Veterans and eligible borrowers. You can finance various property types, making homeownership accessible in many ways. Whether you're looking for a single-family home, a multi-family property with up to four units, a stylish condo, or even a manufactured home, VA loans have got you covered. Our team can help you explore the possibilities and find the right home for your needs.
At Supreme Lending, we take pride in offering VA loans as a way to give back to those who have served and sacrificed so much for our nation. We understand the dreams of homeownership and the challenges that can come with it, and we are here to support you every step of the way. If you are a Veteran, active-duty service member, or an eligible surviving spouse, VA loans may make your dream of owning a home a reality.
Contact us today to learn more about how a VA loan from Supreme Lending can empower you to achieve your homeownership dreams. Let us be a part of your journey to your new home!