If you’re a Las Vegas Veteran, a VA Mortgage may be an excellent option to consider when pre-qualified for new home loan or a refinance loan.
As a way to honor and serve those who served the nation in World War II, the U.S. government created the VA Loan Guaranty program.
Since then, the Department of Veterans Affairs has helped more than 18 million veterans and their families achieve the dream of homeownership.
Faced with deployments across the globe and frequent domestic relocation, active duty military members and veterans have struggled at times to build the financial stability necessary to secure reasonable lending options. VA loans have served as a crucial bridge for this deserving demographic.
VA loans are guaranteed by the federal government. In essence, the Department of Veterans Affairs agrees to cover about one quarter of a borrower’s mortgage in the event of default. That fiscal safety net gives VA-approved lenders a greater degree of security, which often translates into excellent rates and loan terms for qualified borrowers.
VA loans are also one of the few remaining ways for borrowers to purchase a home without putting any money down. The no-down payment feature is routinely cited as the program signature benefit as it is also a cornerstone of the programs mission to make homeownership possible for as many veterans and military members as possible.
VA loans feature some of the most powerful financial benefits of any loan product on the market, in large part as a tribute and service to America’s veterans and active duty military members.
VA loans are one of the few remaining avenues for qualified borrowers to buy a house without a down payment that no-cost option is routinely cited by veterans as the program’s most compelling benefit.
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.
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