VA Loan Benefits
The VA Loan is a great opportunity for our veteran and active military citizens to receive 100% financing to purchase a home. Whether you are looking to downsize, move up to a bigger home, or even relocate because of a job, this loan significantly benefits those who can use it.
The VA Loan program was created by the United States Government in 1944 to help our returning service members purchase homes without the need for a down payment or excellent credit. The Department of Veterans Affairs does not lend money, it guarantees mortgages made through private lenders such as banks, credit unions, and approved mortgage companies. This guarantee encourages lenders to offer veteran and active military borrowers more favorable terms than conventional loans. This historic benefit program has guaranteed more than 22 million home loans since 1944.
Six Key Benefits of the VA Loan
- No Down Payment
- No Private Mortgage Insurance
- Low Interest Rates
- Relaxed Credit Requirements
- Lower Closing Fees and can Negotiate Seller Paid Closing Costs
- VA Loans are Assumable, Meaning the VA Loan balance and terms can be assumed by the buyer when you resell your home
Give us a call at 240.356.1044 to get more information about the VA Loan process!