Veteran Home Loans in Rancho Cucamonga are designed for active-duty military members and veterans. Many National Guard members and reservists are also eligible for these loans. If a military member passed away while on duty or because of a service-connected disability, their spouse is also eligible to apply for one of these loans. There is an upfront fee charged by the VA to fund the loan. This fee can either be paid by the property seller or it can be rolled into your loan. Funding fees range from 1.25-3.3 percent of your total loan amount.
While the seller can pay the closing cost on the loan, they aren’t required to like some of the other loan programs. Because of this, you might need to have money on hand to pay for the closing costs on the loan. You might also need money down as an earnest money deposit. One of the best parts of veteran home loans in Inland Empire is that you can qualify for 100 percent financing, which means you don’t have to spend anything out of your own pocket.
VA Home Loans – Serving San Bernardino County
You don’t have to be a first-time home buyer to use this benefit, so you can keep reusing it over and over. The loan limit will vary based on where you are located, so make sure to go over all of this with you real estate agent in Rancho Cucamonga to make sure you know what price range you should be looking at for your particular loan type.