There are so many different kinds of mortgages out there! If you’re a veteran or active duty military, one of the loans available to you is the VA Loan. What is it?
VA Loans are available to veterans, active duty military and reservists, and some surviving spouses. The program is administered by private lenders but guaranteed by the Department of Veterans Affairs. The goal of the program is to make home ownership easier for members of the military and veterans.
VA Loans don’t always require a down payment, and borrowers won’t have to pay private mortgage insurance (PMI) on the loan. Lenders will still want information about a borrower’s finances and credit score, but the guidelines may be more flexible than a conventional loan.
Do you qualify for a VA Loan? Find out more about these loans here: https://benefits.va.gov/homeloans/.