The VA Loan Program
The VA has established many benefits programs in order to help veterans who have served their country. One of the most valuable benefits is the VA Home Loan Guarantee Program. Veterans who otherwise would not be able to purchase a home can buy a pre-existing home, build a new home, purchase a newly constructed home, buy a condominium, or even purchase a manufactured home through this program.
VA Loan Benefits
No down payment. You can put a down payment on the home if you want to, but the VA allows veterans to finance their down payment through this program which allows many veterans to purchase a home right away without waiting to save money for a down payment.
Assumable mortgages. The VA allows for the mortgages to be assumed in this program, but be careful. If you let someone assume your mortgage then they are using your entitlement to the Home Loan Guarantee Program and it is not restored until they pay the loan off in full.
Lower interest rates and favorable mortgage terms. Since a large portion of the mortgage loan is guaranteed by the VA, mortgage lenders are more likely to offer lower interest rates and favorable terms on a VA Home Loan.
Guaranteed mortgage. Energy efficient home improvements can be financed into your home loan.
See a related article: Time Limits and VA Loans
Get Started With Your VA Loan Request
Take the first step toward your VA loan by getting in touch with a VA specialist.
VA LOAN SPECIALISTS
We are the online VA loan specialists. It is our goal to ensure that your VA home loan process goes as smoothly as possible. Let us help you get the process started today online, or call us at 800-405-6682.
HAVE A QUESTION?
If you need advice concerning Veteran Home Loans, feel free to contact a VA mortgage specialist online or call 800-405-6682. Specialists can help determine whether a Veteran Home Loan is the best financial decision for you.
