VA Loans

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The VA Loan is an exclusive benefit for the brave men and women that raised their right hand and swore an oath to defend the Constitution of the United States of America. This guide will explore the benefits of VA Loans, compare them to other programs, and provide real-life examples of how Veterans have successfully levered VA Loans to secure their homes.

What is a VA Loan?

A VA Loan is a mortgage loan program created by the U.S. Department of Veterans Affairs to assist eligible Veterans, Active Duty, and Surviving Spouses become homeowners. VA Loans are backed by the VA, which means lenders face less risk and can offer more favorable terms to its beneficiaries. 

What are the Benefits of a VA Loan?

In comparison to other loan programs, the VA Loan offers significant benefits. 

• No Down Payment Required: unlike other loans that require some sort of Down Payment. This makes homeownership more accessible to Veterans, allowing them to keep their hard-earned money for other expenses. 
• Lower and More Competitive Interest Rates: on average than other major loan programs, which can potentially save Veterans thousands of dollars over the life of their loan. 
• No Private Mortgage Insurance (PMI): is required with VA Loans. With other loan programs, borrowers with a Down Payment of less than 20% are required to pay PMI, but VA Loans waive this requirement, which can significantly reduce monthly mortgage payments. 
• Flexible Credit Requirements: compared to other loans. Veterans with less-than-perfect credit may still qualify for a VA Loan, with the opportunity to still become a homeowner.