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VALoans
MORTGAGE.INFO
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
What Is A VA Loan?
The U.S. Government created the VA loan the help those bravemen and women who serve our country get into a home. VALoans are a guaranteed by the U.S Department of VeteranAffairs. Meaning that the loan programs to work the the specialsituations that veterans have to find the best mortgage programfor them with help from the funding the Veteran Affairs canoffer. This program has many distinct advantages overtraditional mortgages and has placed over 20 million veteransand their families into an affordable home.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
VA loans are long-term financing options foreligible American Veteran and their spouses. Thereare many benefits of a VA tailored to help Veteransget the assistance they need to get into a homeand a reasonable financial situation.
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- VA loans don't require a down paymentunlike most loans that require downpayments up to 20%
%0 down
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No PMI
- Private Mortgage Insurance is somethingthat is required for buyers that are financingmore than 80% of their home but if you areapplying for a VA loan the governmentbacks these loans, and do not require a PMIfor Veterans.
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Competitive Interest Rates
- The VA guaranty give lenders a degreeof insurance and flexibility which allowsthem to lower rates for Veterans thatmay be lower than most other loans
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Easy to qualify for
- The government funds this programmaking fewer qualifications for Veteransto have to worry about.
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Reduced Closing cost
- If you have a service related injury, youmay qualify for waived funding fee, this willlower the closing cost of your home
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Right to Prepay without penalty
Negotiable Interest rates
Assumable mortgage
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Do I Qualify?If you are a Veteran, and active duty personnel, in theNational Guard, or a surviving spouse you may qualify fora VA loan. Veterans can apply with any mortgage lenderthat participates in the VA home loan program. Howeverthey will need a certificate of eligibility for the loan. Insome cases they can attain this from the lender. Theeligibility requirements are a suitable credit score and asufficient income to insure the borrower will remain ongood standing with loan payments.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
If you or your spouse may qualify for a VAloan check out your options and talk to a
lender today. This program is setup to thankyou for your service and help your find your
dream home.
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T O L E A R N M O R EMORTGAGE.INFO
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C L I C K H E R E
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Justin McHood is Americas MortgageCommentator and has been providing
Mortgage commentary for over 10 years.
Information Provided By:Justin McHood
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