For nearly 70 years, the VA Home Loan program has provided service members and veterans with the opportunity of affordable home financing. And with the wake of the subprime mortgage crisis, the last zero-down program has thrived more than ever.
The VA home loan program offers veterans and service members one of the best lending options available, complete with benefits unmatched by conventional programs.
So what are the Benefits?
The VA Loan has been designed to cater directly to service members, veterans and their families through offering perks, such as lenient eligibility requirements, no mortgage insurance premiums and the option of putting any money.
Other benefits of the program include:
- High loan limits of $417,000 in most parts of the United
States, with some high cost counties offering limits over $1 million
- No prepayment penalties
- Competitive interest rates
Basic Eligibility Requirements
The good news for applicants is that the majority of service members and veterans meet the basic eligibility requirements that include serving on active duty for 90 consecutive days during wartime or 181 days during peacetime respectively, or by serving in the National Guard or Reserves for a minimum of six years.
In The Book on VA Loans: An Essential Guide to Maximizing Your Home Loan Benefits, we will take you on an insider’s trip through the world of VA Loans, from credit scores and interest rates to the opportunities and challenges of this great program. The book provides overall education for this complicated market that can confuse even the most seasoned real estate veterans.
Get a free copy today and learn how you can use your benefits to obtain the home of your dreams.
Chris Birk is the Director of Content and Communications for Veterans United Home Loans, the featured writer for VA Loans Insider and author of The Book on VA Loans: An Essential Guide to Maximizing Your Home Loan Benefits. Connect with Chris on Facebook at VA Loans Insider or on Google+.