UPDATED :: Home Financing for Veterans – Flexibility and low cost to those who have served our country.

Good mortgage bankers will walk borrowers through their best options. Discussing your options with a mortgage banker before shopping for a house is crucial to understanding a prudent amount to spend, the borrowing process, etc. Veterans now have more financing flexibility than ever. Here are some of the appealing features of VA financing:

  • VA financing is 100% loan to value up to limit of $484,350. In other words, you can purchase a primary residence up to a price of $484,350 and bring very little cash to close.
  • If a Seller agrees to pay closing costs – there might be no cash to close. VA financing allows for the seller to pay items for the buyer including personal debts (ie: credit cards), HOA contributions, etc.  Pretty much anything up to 4% of the purchase price provided the property appraises for purchase price.
  • The vet puts down 25% above the amount the loan limit of $484,350.  So, on a $600,000 purchase the down payment is 28,913 – Which is less than 5% down (95.18% loan to value!). To make it even sweeter – there is no mortgage insurance – keeping your payment low.
  • Todd Henley of Prosperity Mortgage reports that they do not charge any lender fees and the reimburse for the appraisal (that is a 3rd party VA appraiser).

The VA financing process is different and requires different forms which are provided by the Georgia Association of Realtors. Please contact Heery Brothers if you have any further questions.


Disclaimer – Written October 2018 and indicative of the current mortgage market. Accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be verified. Everybody’s situation is different. Check with your financial adviser or mortgage banker to determine your best options.

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