Then you should consider a VA home loan if you’re eligible for one of these mortgages — and most veterans and active-duty servicemembers are.
What exactly is a VA mortgage loan?
The VA is certainly not a home loan lender. Alternatively, it guarantees loans created by personal loan providers, which means if you default on your own loan, the VA will repay a few of the losings your loan provider may incur.
Due to this guarantee, loan providers are able to provide loans without a few of the needs of other loan kinds. A few of the items that set VA mortgage loans apart:
- No down payment needed. Continue reading VA Loan needs: purchase a homely house with Zero Down in 2020