Responses: 1
0
0
0
If you cannot raise the down payment there is no drawback to getting a VA loan. If at a later date when you have built up enough savings and you wish to cut down on overall interest payments and/or shorten the term of the loan you can always refinance.
(0)
(0)
PO2 David L. Parker
Absolutely. For those veterans who's eligibility is used and unavailable, having these down payment alternatives is to provide insights on where down payment funds can come from for all borrowers. Also, a side note, some lenders offer recasting instead of you having to refinance that will save you a lot of money. Recasting can be ideal if the rate you have is low and you wan to keep it instead of refinancing.
(0)
(0)
Capt Seid Waddell
Putting a down payment down and/or financing for a shorter time period will reduce the total interest expenses a great deal even if it is done at a higher interest rate - the savings will more than offset the higher rate in most cases.
The important thing is to get started.
The important thing is to get started.
(0)
(0)
Read This Next
Continue with Facebook 
Continue with Google