VA loans make a comeback in the Steamboat Springs real estate market

Thursday, October 20, 2011

Some mortgage lenders and brokers in the Steamboat Springs real estate market are seeing a resurgence of VA loans

Here are a few helpful tips:

VA provides up to 100% financing on the purchase of a primary residence
There is no monthly mortgage insurance!
There is an upfront funding fee that varies from 1.25% to 3% depending on service, down payment and prior use of the VA product. This fee can be financed into the loan.
A 41% debt ratio is required
A certificate of eligibility or form DD214 is helpful for the borrower to bring in when they come in to get pre-qualified.

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