3.Veteran’s Administration Loans
There are many advantages available to veterans and active-duty service members who use VA loans to purchase a property.
There is 0 required down payment. The whole thing can be financed with zero out of pocket. With a VA loan, you can refinance up to the whole value of your property.
Cancel mortgage insurance. There is a one-time fee, however, called the VA Funding Fee.
There is not a minimal credit score required. Although individual lenders may set their own minimum requirements. Those that do typically demand a FICO credit score between 580 and 620 to qualify.
Up to four percent of the sale price can be covered by the seller. This means that finding a willing seller is essential if you want to purchase a home with no money down.
You should start with the VA mortgage program if you are a veteran, active-duty military member, or surviving spouse of a veteran.