VA Loans in MA and NH

Many folks call me and ask what mortgages are available for no money down 100% financing.  The first thing I typically respond with is;  Are you a veteran?  I have done so many VA loans in MA and NH because they allow veterans to finance 100% of the properties purchase price and the best part is that there is no monthly mortgage insurance.  Recently,  mortgage rates for VA loans have been either the same or lower than a conventional mortgage.  That is really impressive since conventional loans will not go up to 100% of the property value and they do require monthly mortgage insurance.  VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

• Very competitive interest rate.
• Closing costs are very limited and we even offer a no closing cost option.
• No private monthly mortgage insurance requirement.
• There is no prepayment penalty.
• Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.

Mortgage insurance is not required, but the VA charges an upfront funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

You must provide a Certificate of Eligibility from the VA to the lender to qualify for the loan.