The VA Home Loan program is among the most borrower-friendly loan options on the market.
For almost 70 years, these loans have helped level the playing field for American service members. Today, the VA loan program is more important than ever before, as borrowers turn to safety, security and buying power of these government-backed loans.
But millions of service members have yet to take advantage of the benefits earned by their service. Fewer than 10 percent of the nation’s 24 million veterans have utilized their VA home loan benefits.
The reality is that scores of veterans and service members already meet the eligibility requirements. Here’s a look at who is eligible to participate in the program:
- Service members who served on active duty for 90 days during wartime or 181 during peacetime
- Members of the National Guard or Reserves who served at least half a dozen years
- Surviving spouses — who have not remarried — of a service member killed in the line of duty or as a result of a service-related injury
- Veterans discharged due to a service-related injury
It’s also important to keep in mind that eligibility doesn’t equal loan approval. Not everyone who is eligible to participate in the program will ultimate secure a VA loan.
The biggest advantage with VA loans is you can purchase a home with no money down. And VA Home Mortgage Loans have no monthly private mortgage insurance (PMI) resulting in a lower house payment for you. Down payment and monthly payment are often the biggest hurdle to home ownership. A VA Home Loan eliminates these obstacles.
We have the Best Loan Programs in Las Vegas for VA Home Loans.
To get approved for a VA Loan visit our website or contact us today at 702-507-4170
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Superior Mortgage Lending LLC – VA Loans Las Vegas