What are the advantages of a VA loan?

Mike Cruz Success Mortgage Partners Mike Cruz Success Mortgage Partners

Mike Cruz Success Mortgage Partners

Certified Mortgage Planner 201-759-3821 [email protected]

发布日期: 2021年8月5日
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What are the advantages of a VA loan?

There are two main advantages to a VA loan: They allow for 0% down payments and don't require mortgage insurance.

For many prospective homeowners, the idea of swapping monthly rent payments for monthly mortgage payments is rather enticing as the money isn't simply 'wasted' on rent.

However, not everyone is able to gather the 10%-20% which is usually required to purchase a home.

This is often the biggest obstacle for homeowners and VA loans are here to help you overcome the financial burden of a down payment.

Secondly, mortgage insurance can easily add up to hundreds of dollars every month but because the loan is guaranteed by the government, you aren't required to pay for mortgage insurance.

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