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Homes for Sale Brentwood TN | Brentwood TN Real Estate | Gennifer MallardHomes for Sale Brentwood TN | Brentwood TN Real Estate | Gennifer Mallard

Gennifer Mallard
Realtor, Real Estate Broker

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(615) 473-5973 Direct
(615) 371-1544 Office
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5 Things Many Buyers Don’t Know About VA Loans

What Many Williamson County Homebuyers Don't Know About VA Loans

If you’re an honorably discharged veteran of the U.S. Armed Forces or if you’re a current service member – including Guardsmen and reservists – you are eligible to use your VA loan to buy a home in Franklin, Brentwood, Nashville or elsewhere in Tennessee. If you don’t have all the details, here’s what you need to know.

5 Key Points About VA Loans

VA loans are reusable.

You can use your VA entitlement as many times as you’d like, as long as you pay off one loan before opening another. In some cases, you can get a new VA loan if you’ve lost one in foreclosure – so don’t write off the possibility if that’s happened to you.

VA loans are only for primary residences.

You can’t purchase a farm or a “fixer-upper” with a VA loan; you must use the home you purchase as your primary residence for a certain number of years. If you decide to sell your home, VA loans are assumable. That means the buyer can take over the payments as long as he or she also qualifies for a VA loan.

VA loans are guaranteed by the government.

Because VA loans are backed by the government, they give lenders more confidence. That enables you to get better terms than you may get without a VA loan, and it allows you to avoid coming up with a down payment.

VA loans don’t require mortgage insurance.

Most other loan programs require you to buy mortgage insurance, which you pay as a monthly premium, if you aren’t putting down at least 20 percent. Because the VA guarantees these loans, you don’t need to purchase it.

The VA charges a mandatory fee, called the VA Funding Fee.

It’s usually about 2 percent of the loan amount, and it’s typically rolled into the loan amount. It can even be waived entirely for veterans who have service-connected disabilities.

Another benefit to a VA loan is that it doesn’t have a prepayment penalty; you can make extra payments and save money on interest – and doing so can help you pay off your loan more quickly, too.

Are You Using a VA Loan to Buy a Home in Williamson County?

If you’re thinking about purchasing a new home in Williamson County, call us at 615-473-5973 or get in touch with us online. We’d love to help you find the perfect place.

Posted in: Blog, Buying, Financing

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Featured Properties

1000 Natchez Road $629,900

1000 Natchez Road Franklin, Tennessee

3 Beds 3 Baths 1,589 Sq Ft 2.180 Acres

7006 Farmhouse Drive lot 37 $628,396

7006 Farmhouse Drive lot 37 Franklin, Tennessee

4 Beds 3 Baths 3,004 Sq Ft Acres

912 Horizon Drive, WH # 2044 $627,900

912 Horizon Drive, WH # 2044 Franklin, Tennessee

3 Beds 3 Baths 2,137 Sq Ft Acres

121 Battle Ave $625,000

121 Battle Ave Franklin, Tennessee

2 Beds 2 Baths 1,343 Sq Ft 0.260 Acres

3062 Nolencrest Way $623,049

3062 Nolencrest Way Franklin, Tennessee

3 Beds 3 Baths 2,683 Sq Ft Acres

201 Moray Court $619,900

201 Moray Court Franklin, Tennessee

4 Beds 3 Baths 2,751 Sq Ft Acres

303 Liebler Lane $619,900

303 Liebler Lane Franklin, Tennessee

4 Beds 3 Baths 2,751 Sq Ft Acres

439 Dewar Drive $609,581

439 Dewar Drive Franklin, Tennessee

5 Beds 3 Baths 2,790 Sq Ft Acres

6027 Farmhouse Drive lot 115 $607,715

6027 Farmhouse Drive lot 115 Franklin, Tennessee

3 Beds 3 Baths 2,368 Sq Ft 0.140 Acres

6013 Farmhouse Dr   Lot 117 $603,524

6013 Farmhouse Dr Lot 117 Franklin, Tennessee

3 Beds 3 Baths 2,250 Sq Ft 0.120 Acres

1309 Pemberton Heights Dr $600,000

1309 Pemberton Heights Dr Franklin, Tennessee

3 Beds 3 Baths 2,704 Sq Ft 0.160 Acres

308 James Ave $600,000

308 James Ave Franklin, Tennessee

3 Beds 2 Baths 1,358 Sq Ft 0.220 Acres

424 Wiregrass Ln $600,000

424 Wiregrass Ln Franklin, Tennessee

3 Beds 3 Baths 2,116 Sq Ft 0.090 Acres

5030 Laughing Brook Ln $599,999

5030 Laughing Brook Ln Franklin, Tennessee

4 Beds 3 Baths 2,615 Sq Ft 0.200 Acres

896 Market St $599,900

896 Market St Franklin, Tennessee

4 Beds 4 Baths 2,979 Sq Ft 0.170 Acres

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Benchmark Realty, LLC

Gennifer Mallard, Realtor

615-473-5973 Direct

615-371-1544 Office

GenniferMallard@gmail.com

Benchmark Realty, LLC
318 Seaboard Lane, Suite 112
Franklin, TN 37067
License #00292590
Company License #259153

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