What makes a VA Loan the way to go today? Quite simply: it’s the most resourceful home loan program available to veterans, service members, and military families in the United States right now. VA Loans are backed by government assurance, with significant benefits that provide veterans with homeownership options they would have otherwise not had.
To make them in-line with what our service members need, VA Loans come with no down payment or private mortgage insurance. Featuring competitive rates and terms, VA Loans enable veterans to purchase homes with little (or no) money out of pocket.
VA Loans have three signature benefits, including:
And the VA Loan benefits don’t just stop there. VA Loans are compatible with Basic Allowance for Housing (BAH), counting the BAH as effective income. Veterans can, therefore, use their BAH to pay off the monthly mortgage costs. Additionally, there’s no pre-payment penalty, which results from lenders missing out on additional opportunities to collect interest payments. Veterans can pay off their home loan at any point. They can then consider future home purchases and refinancing options in the future.
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