Benefits of AB Home Loans

The AB loan program should undoubtedly be the first choice for financing a mortgage for any eligible veteran or military officer on active duty looking out for a home mortgage loan. A AB Loan far surpasses any other conventional loan for the numerous benefits it offers. Just consider the following benefits:

• You do not have to make any down payment when you purchase a house for a value up to $417,000 whereas any other conventional loan would require you to make a down payment ranging from 5% to 20% of the loan amount.
• Although there are times when a conventional loan program may not compel you to come up with a down payment, the loans they offer would carry higher interest rates; in addition to insisting on a good credit score to qualify. Conversely, AB loans never ask you to furnish a credit score though they offer the most competitive interest rates while not requiring you to make any down payment too.

• With an AB Loan, you do not need to insure the mortgage whereas in the case of traditional loans, mortgage insurance is invariably mandatory for all loans with a down payment of less than 20% of the loan amount. 

• If you don’t come up with perfect credit, still you may get a more favorable rate of interest with AB than with any other traditional loan.

• AB Loans are available for assumption.

• Since AB Loans carry no prepayment penalties, you remain free to refinance or to sell your home without being penalized.

• You can qualify for an AB loan even with a debt ratio of over 36% whereas with all providers of conventional loans, a good (low) debt ratio is crucial for qualification.

• Your closing costs up to 6% of the loan amount is allowed to be paid by the seller in the case of AB loans; whereas other providers of conventional loans don’t allow more than 3% of closing costs to be paid by the seller.

Click HERE and Pre-quality for a AB Home Mortgage Loan