VA Loans For Veterans
Take advantage of the VA loans benefits including 100% financing and $0 down payment.
Why Get a VA Loan
About VA Loans
This loan isn’t much different than any other home loan program. You fill out an application, verify you have enough money for closing costs, prove you can repay the loan, and verify your credit history.
However, here are the main differences between a VA loan, FHA loans, or conventional loans.
With VA Loans…
- You don’t pay any mortgage insurance.
- You have to verify your military service history.
- Federal loan limits don’t restrict you.
- Your lender can’t charge you more than 1% in closing costs.
- You’ll pay a funding fee.
For those who qualify, VA home loans have substantial benefits. In addition, for veterans and military members, VA loans offer a simple way to homeownership.
What Is a VA Home Loan?
The VA loan was created by the Servicemen’s Readjustment act of 1944, known as the “G. I. Bill.” It was one of the veterans many benefits for being in service to their country.
These loans are guaranteed by the department of Veterans Affairs, or”VA” for short. The loans are available to all veterans who have any discharge other than dishonorable.
Three Main Benefits of VA Loans
- The Department of Veterans Affairs backs the loans. However, you need to apply through a bank to get a loan.
- All active duty service members and veterans who have any discharge from the service other than dishonorable have access to the VA loans.
- You can use VA loans for home purchases, other real estate transactions, and new construction.
If you are a veteran and thinking about getting a home loan, contact our office, and we will be more than happy to explain all the options you have.
Advantages:
- No down payment required.
- There is no mortgage insurance required
- There are no loan limits.
- Up front costs are lower.
- No income restrictions.
- Keep more of your money.
- Offer better interest rates and terms than most home loans.