Surprising Benefits of a VA Loan
Filed under Facts, Mortgage on Apr 08,2021 | Tagged in: active military, VA Loan
If you’re a veteran or are currently active military, we thank you for your service. Another way that America’s shows its appreciation for your service is through the VA Mortgage Loan program.
According to Realtor.com, this program helps current and former members of the military have access to homes they might have thought were out of reach. Some of the benefits might be surprising to you. There is no down payment required up to certain levels for qualified borrowers. The required credit score for a VA loan can be as low as 620 compared to up to 700 for conventional loans. Mortgage insurance is not required, which can save as much as $200 on the monthly mortgage payment. Closing fees may be lower, and extra assistance in adjusting the valuation of an appraisal is also available. It all adds up to more possibilities for those who serve to attain their dream home.
At Vanguard Realty Associates, we are committed to helping you take full advantage of VA loan benefits. Let us help you find a home fit for a hero.