How A VA Loan Is Better

One of the best benefits about being in active duty or a veteran, is the ability to use the VA loan program. Here are the facts:

  1. Comparing to FHA or Conventional loans, VA loans require zero down payment and also will have no mortgage insurance
  2. With certain rules, the loan eligibility is not just for a single home. You can always upgrade or downgrade. 
  3. As long as you are eligible for the loan, you have earned that for life. A VA approved lender can check your eligibility with DD-214 form. 
  4. VA loans are not just for purchasing a home as you still may refinance and tap into the home equity. 
  5. Unlike other loans, VA loans do not have a strict requirements on credit score, bankruptcies, or foreclosures.  On the other hand lenders do so shopping around to find the best deal would be a big advantage.

                                                                                                                     Source: Blogs.Va.Gov

Don’t Forget:

  •  Perfect credit score not required
  • You may be eligible for a VA loan if you are a:
  • Military Veteran
  • Active Duty Servicemember
  • Reservist or National Guard Member
  • Surviving Spouse
  • Academy Cadet or Midshipman
  • National Oceanic & Atmospheric Administration (NOAA) Officer
  • Public Health Service (PHS) Officer
  • Benefits are for life so you can use it more than once.
  • Appraisals do not take any longer than any other loans
  • Rates are cheaper than conventional loans
  • Most veterans qualify


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