What is "VA Vendee Financing?"
Itís a loan product offered specifically to help finance the purchase of VA Owned properties. It is offered both to veterans and non-veterans, although veterans do have preference.

Up to 6% in normal seller contributions are allowed, and both a 15 year or a 30 year term are available. Vendee mortgages are assumable (as long as the new buyer qualifies), and no appraisals are required for underwriting.

VA Vendee financing is an ideal mortgage solution for investors because (1) property condition is not an issue, (2) there is no maximum number of investment properties allowed, (3) the ability to use anticipated rent for qualification purposes, (4) only 5% down payments are required, (5) no mortgage insurance is required, and (6) interest rates are low!

Posted By: Verle Melz on Saturday, October 24, 2009