Before arranging for a new mortgage to finance a home purchase, veterans should consider some of the advantages of VA home loans.
Qualified military veterans can obtain a mortgage with zero down payment, thanks to a program administered by the Department of Veterans Affairs (VA). Like an FHA loan, a "VA loan" is a federally insured loan that's issued by a traditional financial institution, like a bank. These loans don't require any down payment, and as a bonus, the buyers don't need to pay PMI either – making them an even better deal than FHA loans.
The biggest benefits of a VA Loans are:
• No Downpayment
• No Monthly Insurance Premium
• Limited Closing Cost
• Flexible Credit Guidelines
• Low Average Interest Rates
• No Prepayment Penalties
• Foreclosure Avoidance Advocacy from the VA Loan Program
If you're interested in learning more about these programs or other options for down payment assistance, please give me a call today.
"Together we can figure out a way to make your dream of homeownership a reality!"
