How VA Loans Can Help You Buy a Home

For over 80 years, Veterans Affairs (VA) home mortgage have helped lots of veterans purchase their own homes. If you or someone you know has in fact served in the military, it’s important to find this program and its benefits.

Here are some vital things to understand about VA loans before acquiring a home.

Leading Benefits of VA Home Loans

VA mortgage make it much easier for veterans to get a home, and they’re a great perk for those who certify. According to the Department of Veteran Affairs, some benefits include:

Options for No Down Payment: Qualified borrowers can often get a home with no deposit. That’s a substantial weight lifted when you’re attempting to conserve for a home. The Associated Press states:

“… about 90% of VA loans are used to purchase a home with no cash down.”

Do Not Require Private Mortgage Insurance (PMI): Many other loans with deposits under 20% need PMI. VA loans do not, which recommends veterans can conserve cash on their routine regular monthly real estate expenditures.

Restricted Closing Costs: There are limitations on the types of closing costs you pay when you get authorized for a VA home mortgage. More money stays in your pocket when it’s time to seal the deal.

A post from Veterans United summarize how exceptional this loan can be:

“For the big majority of military customers, VA loans represent the most reliable financing program on the marketplace. These versatile, $0-down payment home mortgages have in fact helped more than 24 million service members wind up being property owners because 1944.”

Bottom Line

Owning a home is the American Dream. Veterans offer a lot to protect our country, and one approach to honor them is by making sure they find out about VA home loan.