VA Home Loan - Top Tips and Tricks From a VA Loan

Introduction - VA Home Loans

First let's recognize the fact that many Veterans are unaware of their housing benefit afforded to them from the Veterans Administration (VA). Secondly, there are many Veterans that are aware of their housing benefit but don't utilize it. Perhaps one of the best benefits provided by the VA, every honorable veteran is entitled to is a VA Home Loan.

What is a VA Loan?

A residential mortgage loan in the United States of America and is guaranteed by the U.S. Department of Veterans Affairs (VA). The loan is not issued by the VA rather you must obtain one through a mortgage banker/broker.

Why a VA Home Loan?

There are many benefits in comparison to other mortgage finance programs currently offered. The most important detail of a VA Loan to many is 100% financing. Zero down allows you to save thousands of dollars immediately in comparison to a conventional loan that may require 10-20% down payment. The second most common detail that benefits the Veterans is looser qualification guidelines. It's estimated that 80% of Veterans would not qualify for a conventional loan.

VA Home Loan Benefits

There are many benefits to a VA Loan in comparison to other programs. Below you will find a few of the highlights of the VA Loan program. It's strongly recommended that you contact a VA Loan Specialist to learn more about qualification and the benefits you are entitled to:

• 100% Financing | Zero Down Payment

• Easy to Qualify (looser guidelines)

• Lower Interest Rates

• Lower Monthly Payments

• No Private Mortgage Insurance (PMI)

• Loan is assumable

How Do I Get Started Loan?

Easy, simply contact an approved VA Lender and speak with a VA Loan Specialist. Not all lenders are approved to originate a VA Loan and even if they are approved it is wise to work with someone that has expertise and experience specifically with VA Loans.

How Do I Select The Best VA Lender?

While there are many lenders approved, you will definitely want to work with a specialist specific to VA Home Loans. Choosing a lender or mortgage professional that doesn't have the experience will prove to be time consuming and frustrating. Search for an approved VA Lender that has accolades and respect from their borrowers, public & industry. All lenders will have customer testimonials but only a few will be recognized by independent third parties. VA Lenders are not tracked closely like an FHA Lender and you may come across some lenders SELF PROCLAIMING to be the best with funny asterisks next to the claim. May I recommend an industry publication the Scotsman Guide (Google - scotsman guide top originator) and you will find independent industry recognized lenders.

VA Home Financing Summary

If you have served your country then contact a VA Mortgage Professional and get started with your VA Home Loan. If you're eligible you won't find a better financing program available.