A VA Loan is among the best loans available to Veterans. It can save them thousands of dollars compared to traditional funding. As a result of the GI Bill that was initially signed in 1944, the Department of Veterans Affairs (VA) has ensured that over $911 billion dollars in VA mortgage loans were guaranteed to US Veterans. As a result, over 90% of home loans for US Veterans required a zero down payment with 100% financing.
Eligible Veterans can take advantage of the benefits and the best mortgage programs available to VA’s today – all as a result of their honorable services and the GI Bill.
Since most veterans are not able to put a large down payment towards the purchase of their home or pay closing cost, a VA makes it possible to by pass all of these costs and enjoy the savings throughout the life of the loan.
So, after putting in countless years of serving our country, our US Veterans deserve the best, especially when it comes to obtaining financing for home loans. Many veterans receive benefits as a result of their contributions made to this country as servicemen, however some Veterans are still in need of financing and may have questions about different financial options available specifically for them. Some of the programs include the following:
$0 Down Payment Programs
Many veterans can enjoy refinancing or purchasing their homes with a zero down payment. This is a great benefit that veterans have earned as a result of their military service that they have provided.
No Private Mortgage Insurance
Veterans can also save thousands by not having to pay for private mortgage insurance through the Veteran Home Loan Programs.
Low Rates For Veterans
Most all veterans are approved for very low interest rate, including rates as low as 1.75% ARM or rates as low as 2.949% APR. veterans will see what a difference a VA Loan can make for them with these great savings on interest rates.
Lower Monthly Payments
Veterans can also enjoy lower monthly payments when purchasing or refinancing their home using a VA loan.
One of the good things about obtaining a VA loan is that not only are they specific to the needs of Veterans, but they are also state pacific with respect to the savings that are offered from state to state. For example VA loans provided by Flagship Financial has been known for not only great customer service but also for its great VA loan – based programs. Our US Veterans deserve very special care and attention as it relates to obtaining refinancing – loans should be easy and streamlined – saving them both time and money. Flagship Financial specializes in such VA related services.