If you’re a Veteran of the U.S. Armed Forces or in active duty, you might be aware of a specialized home loan program administered by the Veteran’s Administration. There are significant benefits to obtaining a mortgage backed by VA support for eligible borrowers, so the plan is worth looking into if you think you qualify. Some general information about VA loans, the advantages and the financing process will be helpful if you’re considering one.
What is a VA loan? It’s a home loan backed by the VA which is available to members of our nation’s military, either active duty or those who have served in the past. The federal government doesn’t actually provide the loan funds, but the Department of Veterans Affairs acts as a sort of co-signer on loans for those individuals who qualify. (more…)
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There’s no doubt about it – finding and qualifying for a home loan is one of the most stressful parts of your home buying adventure. Finding financing is a frustrating balance between your credit record, available loans and interest rates. If you or your spouse has served or is currently serving in the US Armed Forces, there may be a financing avenue available to you that could alleviate some of your headaches – a VA Loan.
What is a VA Loan?
VA Loans are somewhat misnamed, because the Veteran’s Administration does not actually loan money. What they do is work closely with lending institutions to find favorable financing for veterans and active duty service people. Because of your status as a veteran or active service member, you may qualify for loans with better interest rates as well as lending conditions. (more…)
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