A VA Home Loan is a loan that was created as a benefit for veterans and active military personnel and their spouses to help them find and purchase homes in a more affordable and timely manner. A VA Home Loan is guaranteed by the US Department of Veterans Affairs. This loan is available only to those who are veterans or active service men or women of the US Armed Forces, or are spouses of such people.
The VA Loan provides veterans with over 100% of the necessary cost for a home for a first mortgage or up to 20% refinancing for a second mortgage. The buyers don’t need to purchase private mortgage insurance, so more of their monthly payment goes towards principle. This enables the homebuyer to save money and pay off their mortgage more quickly.
If you are wondering if you qualify for a VA Home Loan, you should first check out mortgage rates and then you can visit VA Home Loans.net and speak to a licensed mortgage professional and receive a free same-day mortgage rate.Powered by Sidelines