What You Need to Know About VA Mortgages


Michele Fritz

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If you are either an active member of or are retired from the armed forces, I thank and salute you, and would like to inform you that if you are considering purchasing a property, a VA mortgage is worth looking into.

Zero Percent Down
While zero percent down is unheard of today in mortgage lending, it still happens with VA mortgages.  While it is zero percent down, there are still other expenses, such as closing costs and potential tax escrows that need to be considered.

In order to qualify, you will need to be able to provide a VA Certificate of Eligibility, which you can either obtrain from the VA or with the help of your mortgage professional.

Credit score profiles are similar to those required in order to obtain an FHA loan.  This means you would need a score of around 640, and would be ineligible if you have…

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