The VA loan is an awesome tool available to military members. But, buying a home is a scary and confusing process for a lot of us. What follows is a quick rundown what the VA loan is and how you can use it.
You can use it more than once! Although, you do get the best deal the first time you use it.
Traditional loans typically require a buyer to provide at least 3 to 5 percent of the homes
price as a down payment. For many first-time home buyers, supplying this amount of money upfront may not be feasible. The VA Loan does not require a down payment. Another big plus is that there is no mortgage insurance required.
VA Allows up to 100% cash-out refinancing for currently owned homes.
VA Streamline Refinance
Veterans with current VA mortgage can refinance to a lower rate without appraisal or employment verification.
First Time Buyers
The best financing available for first-time home buyers.