Two major advantages of VA loans are often referred to as the VA “No-No”. The first “No” refers to no money down and the second refers to “No” closing costs. This makes it much easier and cheaper for veterans to purchase a home as compared to non-veterans. With no down payment and zero closing costs, San Diego VA loans offer great home-buying opportunities for veterans. You can buy most properties in San Diego County with no money down and no out of pocket expenses.
No Money Down
The no money down benefit of VA loans goes back to 1944 with the introduction of the G.I. bill. This valuable entitlement helped many veterans purchase homes that would otherwise be out of reach. Its primary purpose was to help those returning from war re-integrate into civilian life as new homeowners.
Before the introduction of the G.I. bill, all mortgage loans required a down payment. In most cases the down payment was a very sizable one, usually between 20% and 30% of the total loan amount. This restriction kept home-ownership exclusive to those that were well off. Most of the working class was unable to purchase homes.
The G.I. bill addressed the problem of lack of savings among war veterans. While fighting to protect our freedoms, most veterans had no way of saving up for a home purchase. This highly beneficial feature of VA loans made the dream of home-ownership come true for countless soldiers returning from war.
No Closing Costs
The no closing costs feature of VA home loans offers veterans an opportunity to save considerably on the purchase of a home. It’s a fantastic benefit that is only available to veterans and we will ensure you take full advantage of it!
This is not to say there are no closing costs associated with VA loans, it just means you won’t have to pay them! Typical closings costs include appraisals, credit reports, origination fees, and inspection fees among many others. Veterans are able to easily and completely avoid all of these costs!
We Help You Take Full Advantage of the VA “No-No” Mortgage
Contact the San Diego Home Buyer center today and learn how you can take full advantage of the VA “No-No” mortgage. We offer veterans only the best when it comes to VA loans in San Diego. Our primary goal is to help you save as much money as possible in purchasing the home of your dreams! You can reach us seven days a week via email at firstname.lastname@example.org or by calling Dan Cauffiel at (619) 261-9954.