Funding Fee $2365 $1858
Initial Loan Amount $112,365 $108,008
MTG Insurance/Mo $0 $75
Total MTG PMT $520.38 $575.20
It’s amazing how much of a difference monthly mortgage insurance can make in your house payment. A home buyer would have to put down over $10,000 just to get an equal monthly mortgage payment that a Veteran would receive under similar circumstances.
Over the thirty year loan period the Veteran would pay over $23,000 less than the non-veteran purchasing a home with an FHA loan and they are buying the same house! What if I told you that the house currently listed at $110,000 came with a $23,000 discount just because your a Veteran, pretty good deal right?
To learn more about VA Loans visit our Facebook page at Facebook.com/eaglehomeloans or call us at 931-896-2903. We serve the Nashville, Clarksville and Fort Campbell communities and specialize in VA Loans for first time home buyers.