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For Active Military & Veterans, looking for a VA Loan and finding the right lender is important.
At McLean Mortgage Corporation, our advisors are knowledgeable about VA Loans and are ready to serve you and your family.
The Department of Veterans Affairs enables approved lenders to offer mortgage loans to eligible military members and veterans for as little as no money down and with no monthly mortgage insurance. Active military, Veterans, Reservists and those who serve in the National Guard are eligible.
Features of VA Mortgages
• With full entitlement, you can purchase with no money down.
• The seller or the lender can pay all closing costs.
• No monthly mortgage insurance is required.
• The required VA Funding Fee can be financed into the loan amount.
• Those on VA disability typically don’t have to pay a Funding Fee.
• Maximum loan amounts are very high, especially in high cost areas.
• Use your allowances for subsistence, housing and cost of living to help qualify.
The Home Ownership Advantage
When you move to a different location, why is buying typically a better financial option than renting? Here are a few significant reasons:
• Tax Advantages. A mortgage payment is tax deductible, rent is not. That means your mortgage payment may be reduced by 20% or more after taxes.
• Inflation Protection. Your entire rent payment is subject to inflationary increases. Only a small portion of your mortgage payment can increase.
• Wealth Building. With rent your landlord builds equity. When you own the property you are building equity.
And those are just a few of the reasons the Federal Reserve Board has found that homeowners have a net worth over ten times that of renters.