Veterans realize many benefits with the VA loan including:
- No down payment needed
- No Private Mortgage Insurance
- Flexible underwriting guidelines
- No prepayment penalty
- Flexible terms and interest rate options
- Low closing costs
One last benefit that often gets overlooked is the funding fee flexibility.
Every veteran pays a funding fee, unless they are certified disabled by the VA or are a surviving spouse of a veteran.
While it can add to your closing costs and cash-to-close, the VA does allow veterans to wrap the amount into their loan.
Yes, it does increase your loan amount slightly, which increases your payment, but it decreases the funds you need to close if money is tight.
Are you a veteran that may be eligible for a Louisiana VA loan? Let us help you secure the best financing available today!