Maryland Real Estate Authority |
| Mortgage Help for Members of the Military Posted: 10 Jul 2010 02:00 AM PDT All hope is not lost for hopeful would-be home owners. While it certainly is tough to get a mortgage, if you have a military background there are places where you can go to get help. For those that qualify, Veterans Affairs (VA) will guarantee a loan for you and the good news is that these loans no require a down payment. Borrowers who are able to take advantage of a loan from the VA will have to pay a funding fee, but that can be incorporated into the loan itself. The kind of funding fee charge depends on the branch of service and whether or not the veteran has already received a loan from the VA. The fees range from 2.15 to 3.3 percent. Also, Navy Federal Credit Union, which serves all branches of the military, has brought back its mortgage that does not require a down payment after ending it a couple of years ago. These mortgages are similar to those offered by Veterans Affairs with the advantage of having a much lower funding fee of 1.75%. And if you are planning to buy Maryland real estate in or near Annapolis, John Day is a top Annapolis realtor and he can help you find a home that suits your needs. He works hard for his clients and is accustomed to assisting in home searches for buyers who have yet to move to the area. |
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Maryland Real Estate Authority Part 1
Maryland Real Estate Authority Part 1
Maryland Real Estate Authority Part 1
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