As a member of the military, you have earned valuable benefits including the VA Loan program designed to help service members and their families purchase a home. The VA Loan has many advantages that make it one of the most appealing paths to homeownership, including:
Many find that the biggest obstacle to buying a home is saving up for the down payment. With a VA Loan, homebuyers are not required to put any money down.
Military service can sometimes strain your financial situation. You are not alone. Approximately 80% of veterans and service members don’t qualify for conventional financing. The VA Loan provides flexible qualification standards, opening the door to homeownership for millions.
Since the VA provides a financial guaranty on each VA Loan, lending institutions carry less risk and don’t require private mortgage insurance. This can save you hundreds of dollars each month.
Completion of a VA “Quick Form” is required to initiate the VA loan process with a local VA loan support specialist. The information you provide is kept private and not released or sold to any outside vendors or agencies.
When you obtain a loan to purchase a home there will be closing costs involved which typically run thousands of dollars. When using your VA loan, you have the option of rolling those closing costs into the loan, freeing up more of your money for other things, like moving trucks, furniture or just keeping it in the bank.
If during your time in duty you sustained a status of 10% or more disability than there might be some additional financial relief covered with the VA loan. You will want to call me so I can connect you with a professional VA lender to go over the details.