We all know that securing housing can be fraught with challenges for veterans. And, most veterans are unaware of a key VA loan benefit designed to make it easier for them. So, in recognition of Veterans Day, we want to honor all those who have, and do, serve by sharing some knowledge that can change that.
For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership. However, according to Veterans United, only 3 in 10 Veterans realize they may be able to buy a home without needing a down payment (see visual below):
That’s why it’s so important for Veterans – and anyone who cares about a Veteran – to be aware of this valuable program. Knowing about the resources available can make the path to homeownership easier and keep life-changing plans from being put on hold. As Veterans United explains:
“The ability to buy with 0% down is the signature advantage of this nearly 80-year-old benefit program. Eligible Veterans can buy as much house as they can afford, all without the need to spend years saving for a down payment.”
The Advantages of VA Home Loans
VA home loans are designed to make homeownership a reality for those who have served our country. These loans come with the following benefits according to the Department of Veterans Affairs:
- Options for No Down Payment: One of the biggest perks is that many Veterans can buy a home without a down payment, making it simpler to start your homebuying journey.
- Limited Closing Costs: With VA loans, there are limits on the amount of closing costs Veterans have to pay. When you’re ready to finalize the sale, this helps keep more money in your pocket.
- No Private Mortgage Insurance (PMI): Unlike many other loan types, VA loans don’t require PMI, even with lower down payments. This means lower monthly payments for you, which adds up to big savings over time.
Your team of expert real estate professionals, including a local agent and a trusted lender, is the best resource to understand all the options and advantages available to help you achieve your homebuying goals.
Bottom Line
Owning a home is a key part of the American Dream, and VA home loans are a powerful benefit for those who’ve served our country. Let’s connect to ensure you have everything you need to make confident decisions in the housing market.
