Far and away, the most significant benefit of a VA loan
is the borrower's ability to purchase with no money down.
Apart from the government's UDSA's Rural Development home
loan and Fannie Mae's Home Path, it's all but impossible
to find a lending option today that provides borrowers
with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
"We're very happy with the work Lonny Andrews did helping us secure financing for our home. This was a complex loan and we really appreciated his thoroughness and attention to detail. He's a pleasure to do business with and we highly recommend him."
"Lonny helped me and two of my friends from work refi our home loans for home-improvement projects and bill consolidation. (We all work for the State of California.). He made the process super convenient and was very easy to work with. Highly recommend."
"It's impressive to realize how much knowledge Lonny has about creative financing. Working with him over the last few months, we've closed on gas station, raw land, renovation, and bridge loans. He has a magnetic personality that is only overshadowed by his 'stick-to-it-iveness" as he navigates difficult loans."
"Lonny works diligently to make sure his clients are taken care of from start to finish. I always know I'm in good hands working with him!"