Benefits of VA Loan
A VA loan is perhaps the most powerful and flexible lending
option on the market today. Rather than issue loans, the VA
instead pledges to repay about a quarter of every loan it
guarantees in the unlikely event the borrower defaults. That
guarantee gives VA-approved lenders greater protection when
lending to military borrowers and often leads to highly
competitive rates and terms for qualified veterans.
Far and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Down payment as low as 0%.
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
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FROM 80+ WHOLESALE SOURCES
Our Happy Clients
"The team of Presley financial are truly dedicated in getting thing done. Scot's knowledge of VA loans is totally on point. There aren't enough words of gratitude to say about Presley financial. They made it happen for me and I know they can make it happen for you. "
"They made the whole process so easy. Everything went smoothly. They were available when I had questions. I would definitely recommend them."
"Scot was very helpful and explained the process when I was confused. He was often available to answer my questions and when he wasn't (which was rare) he quickly responded with a phone call. I have nothing but good things to say about Presley Financial. I will recommend them to my family and friends. "
" Very patient with us, kept lines of communication open and always available to answer questions. "
"I considered myself LUCKY for receiving your mailed out brochure. Precision, timeliness, communication, and service were incredibly outstanding. Not only we've saved money, but we've gained from your incentive program. Thank you Presley Financial for serving veterans like us. "