Let’s be honest, ensuring you have financing for a home can be a daunting task! Funding programs (yes, they do exist!) aren’t always well known or taken advantage of. That’s where I come in! Let’s explore the options for Veterans in particular, which have been around for 80 years! While the programs are not at all recent, they have helped millions of veterans buy their own homes. So awesome! Here are some important things to know about Veterans Affairs (VA) loans before you buy a home.
The Many Advantages of VA Home Loans
VA home loans provide a pathway to homeownership for those who have served in the military, and they’re a great benefit for buyers who qualify. Some of the amazing options available from the Department of Veteran Affairs:
- Options for No Down Payment: So much yes! Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home.
- Limited Closing Costs: There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal. Always a good thing!
- Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their monthly housing costs. A gift that keeps on giving!
These super amazing and flexible options are a part of one of the most powerful lending programs available — helping more than 24 million people since 1944!
Owning a home is a big step and being aware of the programs that may be available is a big first step. If you need to know more about what may be available to you, let’s connect!