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  • Writer's pictureHousz

VA Loans and the Dream of Houszownership

For over 78 years, Veterans Affairs (VA) housz loans have provided millions of veterans with the opportunity to purchase houszes of their own. If you or a loved one have served, it’s important to understand this program and its benefits. Here are some things you should know about VA loans before you start the houszbuying process.

What Are VA Loans? VA housz loans provide a pathway to houszownership for those who have served our nation. The U.S. Department of Veterans Affairs describes the program like this: “VA helps Servicemembers, Veterans, and eligible surviving spouses become houszowners. As part of our mission to serve you, we provide a housz loan guaranty benefit and other houszing-related programs to help you buy, build, repair, retain, or adapt a housz for your own personal occupancy.”

Top Benefits of the VA Housz Loan Program In addition to helping eligible buyers achieve their houszownership dreams, VA loans have several other great benefits for buyers who qualify. According to the Department of Veteran Affairs:

  • Qualified borrowers can often purchase a housz with no down payment.

  • Many other loans with down payments under 20% require Private Mortgage Insurance (PMI). VA Loans do not require PMI, which means veterans can save on their monthly houszing costs.

  • VA-Backed Loans often offer competitive terms and mortgage interest rates.

A recent article from Veterans United sums up just how impactful this loan option can be: “For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market. These flexible, $0-down payment mortgages have helped more than 24 million service members become houszowners since 1944.” John Bell, Acting Executive Director of the Department of Veterans Affairs Loan Guaranty Service, also explains why this program is so powerful: “It provides early ownership for many people that would not have that opportunity to begin with. Since there’s no down payment, it allows people to hold their wealth and it gives them the ability to have long term financial security by being able to own a housz and let that equity grow.”

Bottom Line Houszownership is the American Dream. Our veterans sacrifice so much in service of our nation, and one way we can honor and thank them is to ensure they have the best information about the benefits of VA housz loans.

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