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Our veterans sacrifice so much in service of our nation, and one way we can honor and thank them is to ensure they have the best information about the benefits of VA home loans. Below are some things to know about VA loans before starting the home buying process.
If you are a veteran and 1st time buyer reach out between me and Michael Wagner at Guaranteed Rate Affinity, we’ll answer any questions and guide you in realizing your homeownership dreams.
According to the Department of Veteran Affairs:
Qualified borrowers can often purchase a home with no down payment.
Many other loans with down payments under 20% require Private Mortgage Insurance (PMI). VA Loans do not require PMI, which means veterans can save on their monthly housing costs.
VA-Backed Loans often offer competitive terms and mortgage interest rates.
John Bell, Acting Executive Director of the Department of Veterans Affairs Loan Guaranty Service, explains why this program is so powerful in the following way…
“It provides early ownership for many people that would not have that opportunity to begin with. Since there’s no down payment, it allows people to hold their wealth and it gives them the ability to have long term financial security by being able to own a house and let that equity grow.”
