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Purchase with no money down
More and more banks are asking for large down payments, some as high as
10-20% down, putting home ownership out of reach for many first time home buyers.
A VA Loan is perfect for young families and first time home buyers because the
borrower can finance 100% of the home's value and purchase with $0 down. The VA
is one of the only loan programs that can offer this same benefit.
VA Loan are easier to obtain
Because many first-time home buyers typically don't have a lot of established
credit, getting qualified for a conventional loan can be difficult. The credit
and income standards are not as strict with VA Loans making the loan
qualification process easier.
The savings are HUGE every month!
Because the loan is backed by the government,
banks do not require PMI (private mortgage insurance) which is an added monthly
expense. Rates for VA Loans are typically 0.5%-1% lower than conventional
loans. These two advantages add up to continuous monthly savings