VA Home Loans
VA loans are a type of mortgage that is available to veterans, active-duty military members, and eligible surviving spouses. These loans are guaranteed by the Department of Veterans Affairs (VA), which means lenders are protected in case the borrower defaults on the loan. VA loans typically offer more favorable terms and interest rates than conventional loans and do not require a down payment.
In addition, VA loans do not require mortgage insurance, which can save borrowers money on their monthly payments. VA loans have flexible credit requirements, which can help borrowers with less-than-perfect credit still qualify for a mortgage. Overall, VA loans provide a valuable benefit to those who have served our country and can make it easier for them to achieve the dream of homeownership.
VA Loan Characteristics
1) VA loans are available to eligible veterans, active-duty military members, and eligible surviving spouses.
2) These loans are guaranteed by the Department of Veterans Affairs, which means lenders are protected in case the borrower defaults on the loan
3) VA loans do not require a down payment, which can make it easier for borrowers to purchase a home
4) VA loans typically offer more favorable terms and interest rates compared to conventional loans
5) VA loans do not require mortgage insurance, which can save borrowers money on their monthly payments
6) VA loans have flexible credit requirements, which can help borrowers with less-than-perfect credit still qualify for a mortgage
7) VA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
8) VA loans allow for options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
5) VA loans do not require mortgage insurance, which can save borrowers money on their monthly payments
6) VA loans have flexible credit requirements, which can help borrowers with less-than-perfect credit still qualify for a mortgage
7) VA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
8) VA loans allow for options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
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.Scenic City Mortgage Team. - NMLS# 12007 | 1208 Pointe Centre Drive, Chattanooga, TN 37421
LeaderOne Financial Corporation 7500 College Blvd Suite 1150, Overland Park, KS 66210, NMLS#12007. You may view our license information on the Nationwide Mortgage Licensing System (NMLS) at www.nmlsconsumeraccess.org. LeaderOne Financial Corporation is licensed by Alabama State Banking Department, Consumer Credit License #21517. The Florida Office of Financial Regulation, License #MLD446. The North Carolina Commissioner of Banks Office. License #L-186257. A Georgia Residential Mortgage Licensee, #33522. The Tennessee Department of Financial Institutions #116991. This advertisement does not constitute a loan approval or a loan commitment. Loan approval and/or loan commitment is subject to final underwriting review and approval.