Oak Ridge VA Loans, VA Lender for Oak Ridge Tennessee

Oak Ridge VA Home Loan Benefits local veterans in new home purchase.

The VA Home Loan benefit is a great opportunity for Oak Ridge Veterans and Active Duty Military to purchase a home or condo. We thought it would be a good idea to quickly review the benefits of VA Loans, and a few ways to make sure you get the best use from them.

VA Loans require zero down payment up to $417,000 in Oak Ridge.

  • VA Loans – zero down payment required up to $417,000
  • VA Jumbo Loans – Low down  payment required on loans greater than $417,000

Oak Ridge VA Loans are available up to $417,000 with zero down payment required. The Oak Ridge VA Loan Limit in 2012 is $417,000.

However, Veterans are not limited to the Oak Ridge Loan limit of $417,000 for VA Loans.   We offer VA Jumbo Loans with the appropriate down payment to reach the VA Guarantee requirements of 25% of the loan amount. This means that if you buy a home for $517,000 or $100,000 over the loan limit, you would need a down payment of 25% of the amount over the limit, or in this case $25,000.  This allows you put purchase a $517,000 home with a down payment of less than 5%.

Here are a few ways to use your VA home loan Benefit in Orange County to purchase a home:

  • VA Loan to Purchase a single family home up to $417K with zero down payment and no MI
  • VA Loan to purchase a Condo in Knoxville and Oak Ridge – up to $417K with zero down payment or MI

VA Home Loan info for Oak Ridge, Tennessee:

  • Active Duty Military and Veterans can both qualify
  • 100% financing up to $417,000
  • Available up to $1.5M with suitable downpayment/Equity in home
  • VA Loans require no Mortgage Insurance
  • VA Loans do require a VAFF (VA Funding Fee), which is usually financed
  • Veterans with a 10% VA disability are exempt from  VA Funding fee
  • VA Loans are not just for first time homebuyers
  • VA Jumbo Loans are offered at competitive rates that will surprise you, in a good way.
  • VA Loans allow sellers can pay up to 4% of the VA Buyers closing costs
  • VA Loans can be used to purchase VA Approved Condominiums with zero down

Bill McDonald is your source for VA backed Condo loans.   We also do not have a waiting period for “flips”.   This is often called the Flip Rule or VA Flip Rule .   VA does not require the seller of a property to wait 90 days before allowing a VA buyer to purchase the property, only 1 day.

We are a Proud VA Direct Lender. We have been making FHA & VA loans since 1989. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with us, go with the Government Loan Pros.

Visit us at http://www.mcdonaldmortgage.com/ or call Bill McDonald direct at 865-686-8711 for help with your VA or FHA loan.

Go with the Government Loan Pros. Visit us at www.mcdonaldmortgage.com call Bill McDonald direct at 865-686-8711 for help with your VA loan. We serve the entire state of Tennessee; East Tennessee, Middle Tennessee and Western Tennessee.

Bartlett, Bristol, Chattanooga, Clarksville, Cleveland, Collierville, Columbia, Cookeville, Crossville, Fairfield Glade, Franklin, Germantown, Hendersonville, Jackson, Jamestown, Johnson City, Kingsport, Knoxville, Memphis, Morristown, Murfreesboro, Nashville, Oakridge, Smyrna

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