More often than ever, today’s veterans are taking advantage of VA home loans. With zero down payment, no mortgage insurance, and flexible standards for credit, VA loans are, hands down, the best loan available on the market. Because of these reasons, if you know someone who is veteran or has some military affiliation, it may be worthwhile to explore VA loans as a possible road to homeownership.
- Vetrans, current service members, and eligible surviving spouses may take advantage of the Veterans Affairs home loan guaranty.
- Potential advantages include access to a loan that requires no down payment, no mortgage insurance, and a limit on the total in closing costs.
- VA Loans can only be used when purchasing primary residences.
- VA loans are backed by the VA which enables private lenders such as banks and mortgage companies to offer better terms.
- Vets are able to use their VA entitlement more than once.