Wisconsin VA Loans
For veterans interested in moving to Wisconsin, buying a house has never been more affordable than now. The VA Loan Guaranty Program has made it possible for veterans and their families to realize the dream of homeownership by making the entire loan process easy, quick and extremely inexpensive. Whether you are looking to build that ideal house, move off base for the first time or upgrade to a large family home, when you use a VA Loan you will be able to save a lot of time and money.
No Down Payment
When you use a VA Loan to purchase your new house in Wisconsin, you won’t have to supply a down payment on the house. Conventional loans usually charge anywhere from 5 – 20% for a down payment which can get very costly. This is great for first time homeowners and young families who would otherwise not be able to afford a new house because of the hefty down payment.
Low Interest Rates
Because you are such a desirable borrower when you have a VA guaranty, lenders are usually willing to offer you low interest rates. Not only can you get competitive rates, but there are some instances where you can get a rate that is below the current mortgage market rate.
No Monthly Insurance
When you get a VA Loan, the VA is essentially insuring your loan for up to 25% of the total amount. This means you won’t be required to pay private monthly mortgage insurance, thus greatly reducing your monthly payments.
Flexible Repayment Plans
The VA offers five different repayment plans: traditional fixed, traditional ARM, hybrid ARM, graduated payments mortgage and growing equity mortgage. Each is designed to suit particular income levels and needs. For example, the growing equity mortgage is great for people who will be able to afford bigger payments over time and are looking to pay off the mortgage faster.
There are many additional benefits of using a VA Loan to purchase your new house in Wisconsin including minimal closing fees, easy refinancing and quick approval. With a VA Loan you will be able to afford a bigger house than you ever thought possible for you and your family.
Wisconsin Metro Areas
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