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VA Vendee Financing
Vendee financing is a loan product offered to individuals to help
finance the purchase of VA REO Properties. Vendee Financing will be
offered to both veterans and non-veterans. Some of the guidelines are
listed.
- Seller may contribute up to 6% of the contract sales price to pay
for funding fee, closing costs, prepaid and other expenses.
- Vendee mortgages are assumable by qualification.
- Vendee Financing is not a credit score driven product.
- There are two available terms, a 15 and 30 year fixed rate.
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Owner Occupied purchase:
Can be financed with as little as 0% down. The loan amount
may be increased up to 2% to finance closing costs, prepaids or
other expenses. Funding fee may not be financed.
Non-owner Occupied purchase:
No maximum number of investment properties
Can be financed with as little as 5% down. Investors may use
75% of anticipated rent based on appraiser's estimate to offset
against the subject property monthly payment.
Investors must have experience managing rental properties to
include anticipated rent on subject property in underwriting.
No maximum number of investment properties.
Any purchaser can apply
for Vendee Financing. You
do not have to be a Veteran.
Vendee Financing is available
for non-owner and
Owner occupied.
Low Interest Rates
The seller may contribute
up to 6% of the contract
sale price for closing costs.
2.25% VA Funding Fee
No pre-payment penalties.
An appraisal is not required
for underwriting.
TO VIEW MY VA PROPERTIES SEE PROPERTY LISTINGS ABOVE OR CALL Neal Zingelmann (210.846.0358) FOR MORE INFORMATION
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