The VA loan may be one of the most misunderstood home loan programs. From eligibility to money down, not everyone understands the ins and outs of this program. A VA loan is a right that is extended to certain members of the Selected Reserve or National Guard, active duty military members, veterans, and in some cases, single spouses of those who were lost in the line of duty. To verify eligibility, anyone who applies for a VA loan must produce a certificate of eligibility to the lender.
Are you seeking mortgage assistance for veterans? VA loans do not always require down payments, making them ideal for struggling veterans and active military members. These loans are made through private lenders, then guaranteed by the Department of Veteran Affairs. VA loans are easier to qualify for compared to conventional mortgages.
If you are an active US military service member, veteran or a widow of someone who died on duty, you may be able to take advantage of the great terms available with VA loans. Home ownership is an excellent investment, but many people are unable to come up with the down payment.