You're Now Reading:
Civilians Get VA Loans
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Civilians Get VA Loans
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Civilians Get VA Loans
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Home Buying Tips
Home Selling Tips
About Mortgages
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November 7 2010 (Jeff Alan)
va_seal_logo
One of the benefits of serving your country is the availability of the VA Loan program. One of its most coveted benefits is the ability of qualified service members to purchase with no money down. What few civilians are aware of is a little publicized program that allows them to purchase VA foreclosure properties that utilize many of the same benefits that are normally only available to American service members.

The name of the program is called the Vendee Financing Program and it allows civilians to purchase veteran-owned homes that wind up in foreclosure. Civilian borrowers interested in purchasing these properties enjoy the same types of financial benefits as their veteran counterparts.

This program has long been a favorite of real estate investors, who can purchase multiple properties using this program. But it’s also a great way for prospective home buyers to maximize their purchasing power.

Here are some of the Vendee Financing Program’s biggest benefits:

  • Low and even no down payments on owner-occupied properties
  • No private mortgage insurance or mortgage insurance premiums
  • Sellers can pay up to 6 percent of the sale price to cover closing costs and other qualified expenses
  • No prepayment penalties

Just like most VA borrowers, prospective civilian borrowers can secure fixed-rate loans at both 15- and 30-year terms and are required to pay a Funding Fee to the agency (in this case, it’s currently 2.25 percent of the loan amount). Borrowers in most states will have to put up some earnest money, too.

Since the VA doesn’t actually make loans, they just guarantee them; credit scores and appraisals are generally not part of the underwriting process. The VA is typically more interested in verifiable income to help ensure consistent repayment. But the lenders who engage in this type of financing will certainly take a closer look when it comes to underwriting — they can apply degrees of scrutiny beyond what the VA mandates.

Tags: VA, VA loans, vendee financing program, foreclosures, veterans benefits, service members

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

November 7 2010 (Jeff Alan)
va_seal_logo
One of the benefits of serving your country is the availability of the VA Loan program. One of its most coveted benefits is the ability of qualified service members to purchase with no money down. What few civilians are aware of is a little publicized program that allows them to purchase VA foreclosure properties that utilize many of the same benefits that are normally only available to American service members.

The name of the program is called the Vendee Financing Program and it allows civilians to purchase veteran-owned homes that wind up in foreclosure. Civilian borrowers interested in purchasing these properties enjoy the same types of financial benefits as their veteran counterparts.

This program has long been a favorite of real estate investors, who can purchase multiple properties using this program. But it’s also a great way for prospective home buyers to maximize their purchasing power.

Here are some of the Vendee Financing Program’s biggest benefits:

  • Low and even no down payments on owner-occupied properties
  • No private mortgage insurance or mortgage insurance premiums
  • Sellers can pay up to 6 percent of the sale price to cover closing costs and other qualified expenses
  • No prepayment penalties

Just like most VA borrowers, prospective civilian borrowers can secure fixed-rate loans at both 15- and 30-year terms and are required to pay a Funding Fee to the agency (in this case, it’s currently 2.25 percent of the loan amount). Borrowers in most states will have to put up some earnest money, too.

Since the VA doesn’t actually make loans, they just guarantee them; credit scores and appraisals are generally not part of the underwriting process. The VA is typically more interested in verifiable income to help ensure consistent repayment. But the lenders who engage in this type of financing will certainly take a closer look when it comes to underwriting — they can apply degrees of scrutiny beyond what the VA mandates.

Tags: VA, VA loans, vendee financing program, foreclosures, veterans benefits, service members

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

November 7 2010 (Jeff Alan)
va_seal_logo
One of the benefits of serving your country is the availability of the VA Loan program. One of its most coveted benefits is the ability of qualified service members to purchase with no money down. What few civilians are aware of is a little publicized program that allows them to purchase VA foreclosure properties that utilize many of the same benefits that are normally only available to American service members.

The name of the program is called the Vendee Financing Program and it allows civilians to purchase veteran-owned homes that wind up in foreclosure. Civilian borrowers interested in purchasing these properties enjoy the same types of financial benefits as their veteran counterparts.

This program has long been a favorite of real estate investors, who can purchase multiple properties using this program. But it’s also a great way for prospective home buyers to maximize their purchasing power.

Here are some of the Vendee Financing Program’s biggest benefits:

  • Low and even no down payments on owner-occupied properties
  • No private mortgage insurance or mortgage insurance premiums
  • Sellers can pay up to 6 percent of the sale price to cover closing costs and other qualified expenses
  • No prepayment penalties

Just like most VA borrowers, prospective civilian borrowers can secure fixed-rate loans at both 15- and 30-year terms and are required to pay a Funding Fee to the agency (in this case, it’s currently 2.25 percent of the loan amount). Borrowers in most states will have to put up some earnest money, too.

Since the VA doesn’t actually make loans, they just guarantee them; credit scores and appraisals are generally not part of the underwriting process. The VA is typically more interested in verifiable income to help ensure consistent repayment. But the lenders who engage in this type of financing will certainly take a closer look when it comes to underwriting — they can apply degrees of scrutiny beyond what the VA mandates.

Tags: VA, VA loans, vendee financing program, foreclosures, veterans benefits, service members

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.