How VA Loans Can Help You Build Your Dream Home
In the past 79 years, VA home loans have helped millions of veterans buy their own homes. It is important to learn about this program and its benefits if you or someone you care about has served in the military.
Before you buy a home, here are a few things you should know about VA loans.
The Many Advantages of VA Home Loans
VA home loans provide a pathway to homeownership for those who have served our nation, and they’re a great benefit for buyers who qualify. According to the Department of Veteran Affairs:
- Options for No Down Payment: Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home.
- Limited Closing Costs: There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal.
- Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their monthly housing costs.
A recent article from Veterans United sums up just how impactful this loan option can be:
“For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market. These flexible, $0-down payment mortgages have helped more than 24 million service members become homeowners since 1944.”
The American Dream is to own a home. Veterans make significant sacrifices to protect our country, and one way we can show our gratitude is to make sure they understand all of the benefits of VA home loans. Thank you for your service.