How VA Loans Can Help You Buy a Home

For over 80 years, Veterans Affairs (VA) home mortgage have assisted countless veterans buy their own homes. If you or someone you know has served in the military, it’s essential to discover this program and its benefits.

Here are some essential things to understand about VA loans before buying a home.

Leading Benefits of VA Home Loans

VA home loans make it easier for veterans to purchase a home, and they’re a fantastic perk for those who certify. According to the Department of Veteran Affairs, some benefits consist of:

Options for No Down Payment: Qualified borrowers can often purchase a home without any deposit. That’s a big weight lifted when you’re attempting to conserve for a home. The Associated Press states:

“… about 90% of VA loans are used to buy a home without any cash down.”

Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% need PMI. VA loans do not, which suggests veterans can save on their regular monthly housing expenses.

Restricted Closing Costs: There are limitations on the types of closing costs you pay when you qualify for a VA home mortgage. So, more cash remains in your pocket when it’s time to seal the offer.

An article from Veterans United summarize how exceptional this loan can be:

“For the large majority of military borrowers, VA loans represent the most effective financing program on the marketplace. These flexible, $0-down payment home mortgages have assisted more than 24 million service members end up being homeowners because 1944.”

Bottom Line

Owning a home is the American Dream. Veterans offer a lot to secure our nation, and one way to honor them is by making sure they learn about VA mortgage.