Benefits of Getting a VA Home Loan
7/8/2008
There are exceptional benefits in using your eligibility to obtain a VA home loan. Veteran home loans save you a great deal of money by giving you the best rates with no monthly mortgage insurance which is a huge plus! Also, it is easier to qualify for VA home lonas. The VA even offers extra benefits for disabled veterans. So if you have been disabled in service, a military loan can save you even more. The program is truly designed to give America's best an outstanding opportunity to get in the home buyer market.
One of the benefits is that if you have bad credit but have been improving your credit history for the past year, you can get the same low interest rates for veteran home loans that are available to those with great credit. Even with a Loan-to-Value of 100% (which means that the loan is equal to the sales price or appraised value) there is no monthly Mortgage Insurance required for a VA home loan.
The loan is quarantined by the U.S. Government so there is no insurance required. This can potentially save you hundreds on your monthly payments! VA mortgage loans are often assumable which increases the appeal to future buyers when you're ready to sell.
To make things even more appealing, the VA has released a hybrid Adjust Rate Mortgage, commonly known as an "ARM". Veterans now have a choice of a Fixed rate or an Adjustable rate VA mortgage. Let the VA professionals at lowvarates.com help you decide which loan is best for you.
