Respect and Remembrance in Real Estate
VA Loan Overview
The VA Loan program is designed to help (DD214 approved) service members, Veterans, and eligible surviving spouses become homeowners by means of buying, building, repairing, retaining, or adapting a home for your own personal occupancy.
A Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. (SOURCE)
The outcome is a reasonable and valuable loan package.
PROs:
- No down payment mitigating the stressful costs involved with closing on a home.
- Interest rates are competitive and more likely than not, 1 point better than average rates.
CON:
- Single use at a time—this does not mean you can only use this loan program once in a life, it just means it has to be exclusive to one property at a time.
Montana Veterans' Home Loan Program
The Montana Veteran’s Home Loan Program was developed in the 2011 Montana Legislature (sponsor: Sen. Larsen, Missoula), and is funded by $15 million of the Coal Tax Trust Fund. The loan package looks like:
- a fixed-rate, 30 year mortgage loan
- at 1% lower than either the FNMA or MBOH posted interest rate
- originated by MBOH-participating and program-certified lenders
- purchased and held by the Montana Board of Investments
- serviced by the Montana Board of Housing
If you are curious about this program or would like to learn more about the details as they pertain to you, contact us today! Bozeman Montana Real Estate.net 406-556-7188.
Thank you to all who have and are currently serving. Our lives and our freedom are all what they are because of the sacrifices you have made.
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