VA Loan Information   

The VA loan allows veterans 100 per cent financing without private mortgage insurance or a 20 per cent second mortgage. A VA funding fee of 0 to 3.3% of the loan amount is paid to the VA; this fee may also be financed. In a purchase, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less. Since there is no monthly PMI, more of the mortgage payment goes directly towards qualifying for the loan amount, allowing for larger loans with the same payment. In a refinance, veterans may borrow up to 90% of reasonable value, where allowed by state laws.

©2017 Copyright Sullivan County | Tell a Friend | Print this Page
Address: 100 North Street, Monticello, NY 12701  |  Phone: (845)794-3000  |  Contact Us