The VA mortgage loan has been extremely popular among veterans for years, and for good reason. The loan has several advantages that are not available to other types of home loans. These advantages can help the homeowner save money in multiple ways and get approved easier.
First and foremost, the VA home does not require any type of down payment. Second, the loan does not require private mortgage premiums like other loans. Third, there is a limit on closing costs allowed by lenders. These three areas will save the veteran thousands of dollars not only at the time of purchase but also over the life of the loan.
The other big advantage of a VA Mortgage loan is the qualifying rules. A VA mortgage is normally easier to qualify for when compared to several other kinds of mortgage programs.
These cost-saving measures and a high probability of getting approved make the VA loan a great option for qualified veterans.
Should Your Veteran Home Buyer Get A VA Mortgage