Learn How to Purchase a Home with Zero or Very Low Down Payment.

Currently there are several home loan programs available for 1st time home buyers and move up buyer to purchase with zero or low down payment and market interest rates.

These loans do not have pre-payment penalties so common in the sub-prime era. In fact, the FHA insured loan is now the most popular loan being used for home purchases.

FHA Loans – 3.5% Down Payment and seller can credit up to 6% of the purchase  price towards recurring and non-recurring closing costs.

VA Loans – Zero Down Payment.  Seller can contribute towards closing costs

USDA – 102% loan, seller can contribute towards closing costs.  Cash toward repairs if home is appraised higher than purchase price.  Many areas qualify.    Call for details.  For example: Battle Ground and Ridgefield cities are in the eligible area.

VA Home Loans are available to US Military Veterans.

In Washington State there are  9 military bases.  Washington has a high number of military veterans who qualify for zero down payment VA Home Loans.   There are military veterans all over the state from Vancouver, Washington all the way thru Seattle, Washington and East to Spokane, Washington.

Currently there are 9 military bases in the State of Washington.    Often there is a large population of veterans nearby military bases and many of them like to use their VA Eligibilty for purchase a home using the no down payment VA home loan.  Living near the military base adds convenience for the veterans for services such as commissary and va military hospitals.   Besides, they also enjoy being nearby their comrades.

Veterans like to know what it takes to qualify for a VA home loan.  Below is the qualifications for a va home loan:

This information comes from the Untied States Department of Affairs Website:

I am only including parts of the rules.  To understand the all of the qualifications please visit the Department of Affairs website.   You’ll need to read their rules on dishonorable discharges.

General Rules for Eligibility

Here are the Military Service Requirements for VA Loan Eligibility:

Wartime – Service During:

• WWII: 9/16/1940 to 7/25/1947
• Korean: 6/27/1950 to 1/31/1955
• Vietnam: 8/5/1964 to 5/7/1975

Peacetime – Service during periods:

• 7/26/1947 to 6/26/1950
• 2/1/1955 to 8/4/1964
• 5/8/1975 to 9/7/1980 (Enlisted)
• 5/8/1975 to 10/16/1981 (Officer)

Service after 9/7/1980 (enlisted) or 10/16/1981 (officer)

see Department of Veterans Affairs Website for Details

Gulf War – Service during period 8/2/1990 to date yet to be determined

see Department of Veterans Affairs Website for Details

Active Duty Service Personnel

If you are now on regular duty (not active duty for training), you are eligible after having served 181 days (90 days during the Gulf War) unless discharged or separated from a previous qualifying period of active duty service.

Selected Reserves or National Guard

see Department of Veterans Affairs Website for DetailsYou May also be determined eligible if you:

• Are an unremarried spouse of a veteran who died while in service or from a service connected disability, or
• Are a spouse of a serviceperson missing in action or a prisoner of war

see Department of Veterans Affairs Website for Details

Eligibility may also be established for:

• Certain United States citizens who served in the armed forces of a government allied with the United States in WW II.
• Individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seaman with WW II service, and others.

see Department of Veterans Affairs Website for Details

This is good news for all the military veterans that qualify for a no down payment VA home loan.

For your convenience here is a list of the Washington State military bases:

Here is the list of 9 military bases in Washington State.

Fairchild Air Force Base

McChord Air Force Base

Fort Lewis

Kitsap Naval Base

Bangor Naval Submarine Base

Bremerton Naval Station

Everett Naval Station

Whidbey Island Naval Air Station

Puget Sound Naval Shipyard

So, if you are a veteran from any city or town in Washington state and you qualify for a VA Home Loan than you would want to contact a VA Home Lender.  This can be a bank, mortgage company, mortgage banker or mortgage broker as long as they are approved to originate VA Home Loans.

The loan limits for a VA Home Loan has increased to $417,000 and in high cost areas loan limit is: $625,500.

Here is a list of cities in Washington state where there may be Veterans who qualifty for VA Home Loans.

Aberdeen
Airway Heights
Algona
Anacortes
Arlington
Asotin
Auburn
Bainbridge Island
Battle Ground
Belfair
Bellevue
Bellingham
Benton City
Bingen
Black Diamond
Blaine
Bonney Lake
Bothell
Bow
Bremerton
Brewster
Bridgeport
Brier
Buckley
Burien
Burlington

Camas

Carnation
Cashmere
Castle Rock
Centralia
Chehalis
Chelan
Cheney
Chewelah
Clarkston
Cle Elum
Clyde Hill
Colfax
College Place
Colville
Concrete
Connell
Cosmopolis
Coupville
Covington
Custer
Davenport
Dayton
Deer Park
Deming
Des Moines
DuPont
Duvall
East Wenatchee
Eatonville
Edgewood
Edmonds
Ellensburg
Elma
Entiat
Enumclaw
Ephrata
Everett
Everson
Federal Way
Ferndale
Fife
Fircrest
Forks
George
Gig Harbor
Glacier
Gold Bar
Goldendale
Grand Coulee
Grandview
Granite Falls
Harrington
Hoquiam
Hanford
Holly
Hazel Dell
Ilwaco
Issaquah
Illahee
Kahlotus
Kalama
Kelso
Kenmore
Kennewick
Kent
Keller
Kettle Falls
Kirkland
Kittitas
La Center
Lacey
Lake Forest Park
Lake Stevens
Lakewood
* Langley
* Leavenworth
* Liberty Lake
* Long Beach
* Longview
* Lynden
* Lynnwood
* La Push

* Mabton
* McCleary
* Maple Falls
* Maple Valley
* Marysville
* Medical Lake
* Medina
* Mercer Island
* Mesa
* Mill Creek
* Milton
* Monroe
* Montesano
* Morton
* Moses Lake
* Mossyrock
* Mountlake Terrace
* Mount Vernon
* Moxee
* Mukilteo

* Napavine
* Newcastle
* Newport
* Nooksack
* Normandy Park
* North Bend
* North Bonneville

* Oak Harbor
* Oakville
* Ocean Shores
* Okanogan
* Olympia
* Omak
* Oroville
* Orting
* Othello

* Pacific
* Pacific
* Palouse
* Parkland
* Pasco
* Pateros
* Pomeroy
* Port Angeles
* Port Orchard
* Port Townsend
* Poulsbo
* Prosser
* Pullman
* Puyallup

* Quincy

* Rainier
* Raymond
* Redmond
* Renton
* Republic
* Richland
* Ridgefield
* Ritzville
* Rock Island
* Roslyn
* Roy
* Royal City

* Sammamish
* SeaTac
* Seattle
* Sedro-Woolley
* Selah
* Sequim
* Shelton
* Shoreline
* Silverdale
* Skykomish
* Smokey Point
* Snohomish
* Snoqualmie
* Soap Lake
* South Bend
* Spanaway
* Spokane
* Spokane Valley
* Sprague
* Stanwood
* Starbuck
* Steilacoom
* Stevenson
* Sultan
* Sumas
* Sumner
* Sunnyside

* Tacoma
* Tekoa
* Tenino
* Toledo
* Tonasket
* Toppenish
* Tukwila
* Tumwater

* Union Gap
* University Place

* Vader
* Vancouver
* Vashon

* Waitsburg
* Walla Walla
* Wapato
* Warden
* Washougal
* Wenatchee
* Westport
* West Richland
* White Bluffs
* White Salmon
* Winlock
* Woodinville
* Woodland
* Woodway

* Yakima
* Yelm
Zillah