1 / 3

VA Guaranteed Home Loans: What You Need To Know

VA Loans are home loans guaranteed by the Department of Veteran Affairs, but are offered by private lenders (banks, online private lenders etc.), to the eligible veterans.

JohnKerry
Download Presentation

VA Guaranteed Home Loans: What You Need To Know

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. VA Guaranteed Home Loans: What You Need To Know VA Loans are home loans guaranteed by the Department of Veteran Affairs, but are offered by private lenders (banks, online private lenders etc.), to the eligible veterans. If you are eligible for a VA loan, you can either apply for it to buy a new home or you can also use it for refinancing. The best part of these veteran specific loans is that there is no need to worry about a down payment for them because these loans offer 100% loan financing. However, funding fees and closing costs do apply and that needs to be paid up front.

  2. The other benefits of a VA guarantee include securing a mortgage loan at highly competitive interest rates and the lender is protected against loss if you fail to repay the loan. It also allows veterans the flexibility to buy a great home which would not have been possible otherwise. Specifically, VA loans help veterans in: Buying, building, repairing and refinancing a home Installing a solar heating or cooling systems along with other weatherization improvements Purchasing and improving a home simultaneously Refinancing an existing VA home loan to reduce the interest rate Other VA safeguards for borrowers are: The VA can suspend lenders who take unfair advantage of the borrowers or deny the loan to eligible veterans on the basis of race, color, religion, sexual orientation etc. The VA instructs builders of new homes to provide a one year warranty to the buying veterans that the home has been built as per VA approved plans and specifications. The borrower who has obtained a VA home loan can only be charged the fees that the VA has deemed allowable. The borrower of VA loan can prepay the entire loan without any penalty

  3. The VA encourages lenders to extend forbearance if a borrower is temporarily unable to meet payments or terms of the loan. All Western Mortgage is a VA approved online mortgage lender that has helped thousands of veterans to buy their dream home. To apply for our VA home loans, click here.

More Related