Reasons to Use Your VA Eligibility

VA ELIGIBILITY BENEFITS

Thanks to the Veterans Affairs Home Mortgage Loan Program, there is hardly ever a bad time for a veteran to purchase a home. These federally backed lending opportunities can be used to receive better interest rates for current mortgages, but more importantly, they make it possible for veterans, and their families, to receive an affordable mortgage, and purchase a new home, even when they otherwise would not have been able.

 

BENEFITS OF VA LOAN

  • No down payment required
  • Defer payments for two months
  • Competitive interest rates
  • No private mortgage insurance
  • Lenient eligibility requirements

CONVENTIONAL LOAN DOWNFALLS

  • Strict credit requirements
  • Expensive additional costs
  • Higher interest rates on average
  • Costly pre-payment penalties
  • Lengthy closing process

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