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How Long Must You Be In The Navy To Qualify For The No Down Payment Loan? |
I have heard that when you solder together the navy you can get a home loan with no down payment...This sounds a little unrealistic to me, but maybe its true? if not, does the flotilla help with getting a loan for a home at all? and finally, how long do you have to be in the navy before you can qualify for such loans? can it be organize out of boot camp? any help on this issue and related to home buying through the armada would be great, thanks.
it is not something the Fleet deals with, it is part of your VA benefits. I do believe it is three years of service before you can qualify.. but truly, a zero down VA loan is NOT a favourable deal.
you'd be far far FAR better off saving every dime you can and putting down at least 10%( and preferably 20% to circumvent PMI) and sticking with a conventional fixed rate mortgage.
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