The VA Mortgage Loan is one of the greatest benefits you walk away with after serving time in the military. It offers two things, 1) a loan with no down payment and 2) a typically better-than-average interest rate. Consider this:
Homebuyers are typically required to provide a down payment, usually equating to 20 percent of the purchase price in order to buy a home. So on a $250,000 home, a 20 percent down payment would be $50,000. That is a lot of cash. If you use the VA loan benefit you pay ZERO!
That gets your attention, right?
Learning about mortgages is like one of those safety briefs your commander would give on a Friday afternoon. Even though you saw his lips moving, your mind was occupied by thoughts of awesome weekend plans. We understand — the topic is dry. But knowledge is power here. The VA Loan is a big deal and gives you the go to become a homeowner.
So with that, let’s dive in and learn about the VA Loan!