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Military Financial Resources

Benefits of VA Home Loans

  • No down payment as long as the sale price does not exceed the appraised value

  • Loan-to-value of 100 percent

  • Back-end debt-to-income ratio of 41 percent under certain circumstances

  • No private mortgage insurance

  • Limits on closing costs, which may be paid by the seller

  • No penalty for early payoff

  • Loan is assumable by another qualified veteran borrower

  • May apply for a new loan 2 years or sooner after a bankruptcy

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