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What is a VA Loan?
A VA loan is a mortgage offered through a U.S. Department of Veterans Affairs program. VA loans are available to active and veteran service personnel and their surviving spouses, and are backed by the federal government but issued through private lenders.
We Appreciate your Sevice to our country
We Appreciate your Sevice to our country
To all our veterans, thank you for your service! We greatly appreciate the sacrifices you have made in defending our country. Since you are visiting us, then you are most likely considering buying a home and would like to know more about VA Loans. VA home loans are a incredible benefit that helps you get into your new dream home.
mORE ABOUT va lOANS
mORE ABOUT va lOANS
The VA home loan is a benefit earned by Active Duty Service Members, Veterans, National Guard members, Reserve members, and eligible surviving spouses.
In 1944, Congress passed the Serviceman’s Readjustment Act, also known as the GI Bill. The Department of Veterans Affairs Loan Guaranty Program (VA loan) was established as part of the bill. Today, the VA home loan still exists as a financing option for qualified Active Duty Service Members, Veterans, National Guard members, Reserve members, and eligible surviving spouses for their purchase or refinancing of a home. In addition there are other groups and categories of consumers that may be eligible for VA Lending that are not listed here. In all things VA Home Loan related we highly recommend that regular consultation of the VA Benefits
BENEFITS OF A VA LOAN
BENEFITS OF A VA LOAN
Why is VA loan so special? This is a special benefit which is only available to eligible veterans, active duty service members, and in some cases, their spouses. Gives you more flexibility in the home buying process if you are eligible.
Primary VA loan benefits include:
Primary VA loan benefits include:
To some cases, there are no required down payments. Most VA loans are offered 100% financing to qualifying veterans.
No PMI. The biggest benefit is no private mortgage insurance (PMI). VA loans will not have private mortgage insurance, even if you decide to put no money down.
No restrictions to location or amount in buying a home. Department of Veterans Affairs do not have a limit to the amount you can borrow but still, keep in mind that you have to qualify with proof of income and employment.
Benefits of VA Loan
No DOWN PAYMENT Required
U.S Department of Veterans Affairs guarantees loan
Low fees
NO MONTHLY MORTGAGE INSURANCE
More relaxed credit and income qualifications
NO LOAN LIMITS with full entitlement
VA home loan benefit may be used more than once
Gift, grants, and seller contributions (4% max) allowed
can be used to buy a Single Family Residence, Condo, Townhouse, or Manufactured home
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