Resource Financial Services charges no lender fees for origination, underwriting and processing of your loan. On a VA home loan, lenders are allowed to charge one percent of the loan amount. On a $200,000 loan, the lender fee would be $2,000. Our policy of no lender fees allows you to maximize your budget.
With a VA loan you can buy a house with zero money down. Conventional and FHA loans require between 3.5 percent and 5 percent of the loan amount for down payment. Your VA loan allows you to own a home now, not years down the road, while saving your money for other things like home improvements, education or a rainy day fund.
VA home loans are backed by the government, so unlike conventional and FHA loans, they do not require monthly mortgage insurance. Conventional borrowers who can’t put 20 percent down typically have to pay this, which can add hundreds to their monthly payment. No down payment and no private mortgage insurance means big savings for you.
Because the VA backs each VA loan with a guaranty, these loans carry less risk and continue to have the lowest average interest rates of all loan types. Resource Financial gives eligible veterans and service members our very best rates on VA home loans and interest rate reduction refinance loans (IRRRL).