VA loans offer easier qualification when compared to a conventional mortgage. They also have lower interest rates and it’s a NO MONEY DOWN program which makes this program a fantastic for first time home buyers!
Here are some highlights of a VA Loan:
- VA loan offers either a 15 year fixed or a 30 year fixed rate loan.
- Interest rates for a VA loan are typically .5% to 1% lower than a Conventional loan
- No need to put 20% down – it is a No Money Down program
- VA Loans come with a government guarantee
- No PMI (private mortgage insurance) required
Buying a home for the first time can be a very exciting yet overwhelming process. Many buyers say the VA loan is the easiest way to qualify for a home loan and refinance. VA Home Loan Centers will guide you through the process making your home buying journey as smooth as possible.