Shop for Low VA Mortgage Rates
For eligible veterans and active duty military personnel a VA mortgage loan can be a wonderful benefit to take advantage of. The Department of Veterans Affairs guarantees these loans, which can finance as much as 100% of the value of the property, ensuring low rates and easier qualification guidelines than with conventional loans.
Benefits of a VA Loan
In addition to the excellent VA mortgage rates, and no money down option there are a number of advantages to obtaining a VA home loan, such as:
- Many VA loans are assumable, meaning if you sell your home the new owners can take over your mortgage rather than applying for a new loan. This is extremely attractive to many buyers and will set your property apart from others for sale.
- Those with less than perfect credit can sometimes qualify for a VA home loan even if they would not qualify for most conventional loans.
- A VA mortgage can allow you to purchase a home with very little initial out of pocket expenses. Up to 100% of the property value can be financed, and so can the VA funding fee. Closing costs are permitted to be covered by gift funds or paid by the seller.
- No private mortgage insurance is required either, which conventional borrowers must pay monthly unless they put down a minimum of 20% of the loan amount.
- If you already hold a VA mortgage and would like to take advantage of today's low VA mortgage rates a streamlined refinance can be considerably simpler, less time consuming, and less expensive than a conventional refinance. There are no prepayment penalties and with streamlined refinancing, no additional underwriting is required. Request a quote now to see what the rates are today and what you could be saving.
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Created in 1944, the Veterans Administration Home Loan Guaranty Program was established to assist service members returning from active duty, the opportunity to buy a home of their own. Since it came into being, over 18 million active duty, retired and reservist members of the military have realized the dream of home ownership. Because the Federal Government backs the loans, military borrowers benefit from very competitive rates and terms offered by VA-approved lenders. You can request free information by filling out our form to the right, or you may simply call us at 1-800-634-8616. The loan consultants at American Financial Resources are experienced VA home loan experts. They can help you determine whether you are eligible and apply for your certificate of eligibility from the Department of Veterans Affairs. They can also let you know what the current loan limit is for the county in which you live or are looking for a home, and walk you through the entire process.