My husband and I were presented with Mortgage Investor Corporation's VA benefit and are taking advantage of it. We have a federally binding Good Faith Estimate that shows that we will save at the very least $99,000 over the life of our $230,000 loan.
The people who are afraid of this benefit and company simply do not understand the program.
Why would the Veterans Administration create a benefit that would be a detriment to a veteran when they co-sign for 25% of every VA loan?
This program is an absolute no-brainer. If you do not understand it, call and ask whatever questions you have and have it explained. Don't put negative comments here so that other vets don't even have a chance to see the program and possibly understand it and save thousands.
My husband and I are thinking of buying another home and renting this one. We WILL be using this benefit on the new home as well. We are both vets and have the luxury of two eligibilities!
Shame some are not using their benefit to the best of their ability. I guess they like complaining about things they don't understand and then lining the pockets of their current civilian mortgage company with interest fees they pay them.
Review about: Mortgage Investors Corporation Loan.