Why a VA Loan is Perfect for Home Buyers
Military homebuyers have access to one of the most unique and powerful loan programs ever created. The VA loan program has helped more than 18 million veterans become homeowners since World War II.
These flexible, low-cost loans are more popular than ever before, and there’s little secret why: Qualified veterans can purchase a home with no money down.
Saving money and building credit can be difficult for service members constantly on the move. Government-backed VA loans allow qualified veterans to finance 100 percent of the home’s value. VA loans are easier to qualify for than conventional, with income and credit requirements that open homeownership to a wide range of veterans and active-duty service members. Even More Savings
VA loan borrowers also don’t have to spend money every month on private mortgage insurance, or PMI. Interest rates are often lower for VA loans than their conventional counterparts. They also allow sellers to pay closing costs and concessions, another benefit that keeps money in the veteran’s pocket.
The advantages are real. A lower monthly payment, easier qualification guidelines and the ability to purchase with $0 down make a VA Loan the best option for first time home buyers who qualify.