Information on the VA Vendee Program

The VA Vendee Program is an unbelievable program for investors and has been growing in popularity due to the extremely attractive financing options it offers

Here are a few bulleting points with the features of this loan: 

• Only 5% down payment required for investment properties( +2.25% Funding Fee)
• No PMI or mortgage insurance
• 2.25% funding fee paid to the VA
• Flat 4.5% interest rate fixed for 30 years
• Flat $2,500 in closing costs covers title/processing/underwriting/everything)
• Individuals who currently own rental properties for at least a year can use anticipated rent to qualify on the new property
• No appraisal necessary —great for individuals who like fixed uppers
• VA can cover up to 4% of closing costs limited to the $2,500 and the amount required to establish an escrow account
• No maximum number of properties than can be financed
• Assumable by qualification – a big plus for investors who are looking to sell in the near future

For additional questions, contact Accountant Richard Smith at rsmithtax@aol.com