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Savvy Mortgage VA-Loans
About VA Loans

VA loans are great options for active-duty military, veterans, and their families.

VA loans are insured by the federal government. This means lenders are protected if you are unable to repay your mortgage. As a result, there are advantages for eligible borrowers.

You don’t need a down payment for a VA loan. While most loan programs require some money up-front, VA loans do not.

VA loans do not require mortgage insurance. Generally, borrowers with less than 20% of the purchase price to put down must pay mortgage insurance. This is what protects the lenders if you are unable to repay your loan.

Up to 4% of the purchase price can be seller-paid closing expenses, or concessions.

If you decide it’s time to move on, you can sell your home or pay it off earlier than planned without penalty. If you sell your home to another VA loan eligible buyer, they may be able to assume your loan. This can be a big selling point.

There are many lenders who offer VA loans. The government pre-approves lenders including banks, credit unions, and mortgage lenders. Each set their own rates and fees. However, the VA does limit closing costs you can be charged.

The Savvy Team can help you determine which option is the best for you.

VA Loan Feature Summary:

  • Qualified borrowers can get a VA loan with no money down
  • There is no mortgage insurance required
  • VA Loans allow up to 4% of the purchase price in seller-paid closing costs, or concessions
  • Loans backed by the VA are assumable by qualified future buyers

Loan Guidance

The Savvy Mortgage team is well-versed in these types of loans and can offer you their expert guidance about all factors you should consider. They will make sure you have all the information to decide which is the right approach to home ownership for you.

What You Can Expect as a Savvy Client:

Eileen, Tracie, and their team will work with you to help you identify the right loan for your needs.

Throughout the process you’ll receive the excellent customer service and support Savvy is known for.

Savvy will be by your side, guiding you every step of the way:

  • Complete our simple loan qualifier survey
  • We’ll send you customized information about your best options
  • We’ll work with you to compare mortgage terms and rates to find the right one for you