The benefits of a VA home loan...

The Benefits of a VA home loan

VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.

VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.

 Source: benefits.va.gov

I am always looking for ways to help First Time Home Buyers.  And what a better way to help a VETERAN than by sharing this information?

WHAT IS A VA-GUARANTEED LOAN?

A VA-guaranteed loan can be used to:

·         buy a home, either existing or pre-construction, as a primary residence

·         refinance an existing loan

BENEFITS OF A VA-GUARANTEED LOAN:

·         Equal opportunity for all qualified Veterans to obtain a VA loan

·         Reusable

·         No down payment (unless required by the lender or the purchase price    is more than the

·         reasonable value of the property)

·         No mortgage insurance

·         One time VA funding fee that can be included in the loan

·         Veterans receiving VA disability compensation are exempt from the VA funding fee

·         VA limits certain closing costs a Veteran can pay

·         Can be assumed by qualified persons

·         Minimum property requirements to ensure the property is safe, sanitary, and sound

·         VA staff dedicated to assisting Veterans who become delinquent on their loan