Your service to our country makes you eligible for a variety of valuable veterans’ benefits. For example, the U.S. Department of Veterans Affairs helps active duty service members, veterans, and eligible surviving spouses become homeowners.
The VA provides a home loan guaranty benefit and other housing-related programs that can help you buy, build, repair, retain, or adapt a home for your own personal use. These benefits can be helpful for transitioning military who want to become first-time homeowners.
Here’s how it works. VA Home Loans are provided by private lenders, such as banks and mortgage companies. The VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. Here’s why now may be the right time to lock in a low rate with a VA Loan.
- You don’t need a 20% down payment.
- Interest rates are at near record lows.
- You can refinance without re-qualifying.
- You don’t have to pay for private mortgage insurance (PMI).
- You can get home financing of up to $417,000.
Learn more about the benefits of getting financial help from the VA. You earned it; now use it!