The VA helps Service members, Veterans, and eligible surviving spouses become homeowners. As part of the VA’s mission, they provide a home loan guaranty benefit to help Veterans buy, build, repair, retain, or adapt a home for their own personal occupancy. VA guarantees a portion of the loan, enabling us to provide more favorable terms.
VA Home Loan Advantages:
- No down payment is required as long as the sales price doesn’t exceed the appraised value.
- No private mortgage insurance premium requirement.
- VA rules limit the amount you can be charged for closing costs.
- Closing costs may be paid by the seller.
- The lender can’t charge you a penalty fee if you pay the loan off early.
- You don’t have to be a first-time homebuyer.
- You can reuse the benefit.