Video Tips for Lehigh Valley Home Buyers - Everything a Home buyer needs to know about Lehigh Valley Mortgage (s) Resources to Lehigh Valley Mortgage programs and Lehigh Valley down payment and assistance programs. - Not only for First Time Home Buyers.
View a Video from a Lehigh Valley Mortgage Advisor on What is a VA Mortgage - But make sure you check out the information below as there are many other helpful Home Buyer resources available.
The Veterans Association mortgage is phenomenal! True 100% financing for the Lehigh Valley home buyer! The U.S Department of Veterans Affairs began offering home mortgages to veterans in 1944. Eligibility requirements for Lehigh Valley Homes are:
•- Veterans who served during WWII, Korean Conflict, Vietnam War or Persian Gulf Conflict - Served at least 90 days of active duty and Honorably Discharged - and National Guard or reservists activated.
•- Veterans with service only during peacetime periods and active duty military personnel must have had more than 181 days of consecutive active service.
•- Reservists and National Guardsmen shopping for homes in Lehigh Valley PA are eligible after 6 years of enrollment in a selected service.
•- An un-married spouse of a veteran who died while in service from a service connected disability OR a spouse of a serviceperson who is considered MIA/POW for at least 90 days. In addition, a future Home Buyer interested in purchasing a Lehigh Valley Home must obtain a VA FORM 26-1880 - Request for a Certificate of Eligibility for VA Home mortgage Benefits.
VA mortgages for the home buyer are - Assumable -100% financing -Interest rates similar to that of FHA -No monthly mortgage insurance and one-time - one lump sum VA funding fee which can be financed in the mortgage. This fee will vary in accordance to the home buyers Eligible Properties - 1-4 units, home buyer occupied -Town houses or Row homes - Manufactured Homes - Modular or Condos.
The Veterans Association requires a VA appraisal is conducted that reviews Health and Safety areas of the home. Well water must be tested for the Lehigh Valley home buyer - Onsite Sewage system is up to Appraiser if certification is needed -Wet basements or toxic mold and Lead base paint. Some typical property repairs required by the VA for Lehigh Valley Home Mortgages are: if roof does not have a least 2 years of life left - heating - plumbing and electrical - Building code violations and Termite certification.
Many Lehigh Valley Home Buyer found it helpful to know about The First 5 Steps in buying Lehigh Valley Home, Pre-Qualifications Vs Pre-Approval, and What Effects your credit score.
Copyright© Moriah Martin RE/MAX real estate * Lehigh Valley Homes - Mortgage - What is a VA Mortgage & How can it help the Lehigh Valley Home Buyer a Home Buying Video Series*
