For over 79 years, Veterans Affairs (VA) homeloans have helped countless Veterans achieve the dream of homeownership. But according to Veterans United, only 3 in 10 Veterans realize they may be able to buy a home without needing a down payment.
That’s why it’s so important for Veterans to be aware of this valuable program. Knowing about the resources available can make the path to homeownership easier, And it can keep life-changing plans from being put on hold. As Veterans United explains:
“The ability to buy with 0% down is the signature advantage of this nearly 80 year old benefit program. Eligible veterans can buy as much house as they can afford, all without the need to spend years saving for a down payment.”
The Advantage of VA Home Loans
VA home loans are designed to make homeownership a reality for those who have served our country. These loans come with the following benefits according to the Department of Veterans Affairs:
- Options for No Down Payment: One of the biggest perks is that many Veterans can buy a home with no down payment. That makes it simpler to get started on your homebuying journey.
- Limited Closing Costs: With VA loans, there are limits on the types of closing costs Veterans have to pay. This helps keep more money in your pocket when you are ready to finalize the sale.
- No Private Mortgage Insurance (PMI): Unlike many other loan types, VA loans don’t require PMI, even with lower down payments. This means lower monthly payments which adds up to big savings over time.
The best resources to understand all the options and advantages available to help you achieve your homebuying goals is a trusted agent and lender.
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