FHA vs. VA loans

VA allows for zero down payment, and if you're a disabled vet, you will not have to pay the upfront funding, and the do not charge a monthly mortgage insurance premium. FHA will require 3.5% down, they charge 1.75% upfront, which can be financed, and the monthly premium will be about $105 for every $100K financed... VA will be a much better deal for you.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Yes. VA is much better than FHA for an eligible veteran. VA allows for zero down payment and there is no monthly mortgage insurance requirements. Rates are usually comparable, if not identical. Work with a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Banker/Broker is Trained, Tested and Licensed in all aspects of Mortgage Origination. A bank employee? Not so much: NO Training, NO testing, and NO License. While we have access to loan products of many lenders and can properly guide you, your bank only has their own products. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Hello Sergeant,In this case I would recommend going through VA as your payment will be lower. VA does not charge a monthly mortgage insurance premium where as FHA does at 1.25% of the loan amount/month, and this is on top of the upfront portion that is financed on your loan (similar to the VA funding fee). If I can be of further assistance feel free to reach me through my site www.thefloridamortgagecenter.com or on my cell (904) 514-8884. Thank you, Steve Verrier

Va is your best option. If disabled can avoid a 2% upfront funding fee. Have you ever used your Va Benefit to buy house in past ? Do you have your DD 214 and have your checked with Va on your Certificate of Eligibility ? Getting your hands on these two documents is a great place to start process. We are a nationwide lender but I do loans only in Florida. I would be more than happy to speak to you if you would like to call me at 954 558-4430 Craig Prickett nmls 268694 www.firstfloridafin.com

Thank you for your service. VA is the best way to go. I do loans in Florida. If you would like to discuss this more give me a call. 754-444-9705 Michelle

Using your VA benefits to buy a home would definitely be in your best interest. The biggest benefit is that it allows for a 100% financing. Additionally, there is no associated mortgage insurance and the total of fees from the lender is capped to 1%. Good luck and thanks for your service.

As the other responders have stated, a VA loan offers you many benefits not available to the general public, such as zero down and no private mortgage insurance (PMI). Unfortunately, there are many individuals involved in the mortgage industry including realtors and some non-specialized lenders, who may steer VA-eligible borrowers away from the VA loan because of the common myths that VA loans take longer or are harder to close. I'd like to connect you to a website that offers a VA Loan Library with videos and articles to help educate you and those you decide to work with on the VA Home Loan Guaranty Program. http://www.directvaloans.com/VA_Home_Loan_Guide/Default.aspx . Good luck and thank you for your service!