Curious about the VA Loan Benefit? Here’s everything to know.
For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership. However, according to Veterans United, only 3 in 10 Veterans realize they may be able to buy a home without needing a down payment (see visual below):
That’s why it’s so important for Veterans – and anyone who cares about a Veteran – to be aware of this valuable program. Knowing about the resources available can make the path to homeownership easier and keep life-changing plans from being put on hold.
As Veterans United explains:
“The ability to buy with 0% down is the signature advantage of this nearly 80-year-old benefit program. Eligible Veterans can buy as much house as they can afford, all without the need to spend years saving for a down payment.”
The Advantages of VA Home Loans
The VA provides home loans to make homeownership a reality for those who have served our country. These loans come with the following benefits according to the Department of Veterans Affairs:
- Options for No Down Payment: A major benefit is that many veterans can buy a home with zero down payment. Making the homebuying journey much easier to start.
- Limited Closing Costs: With VA loans, veterans benefit from capped closing costs, keeping more money in their pockets at closing.
- No Private Mortgage Insurance (PMI): Unlike many other loan types, VA loans don’t require PMI, even with lower down payments. This means lower monthly payments, which adds up to big savings over time.
Your team of expert real estate professionals, including a local agent and a trusted lender, is your best resource. They help you understand all the options and advantages to achieve your home-buying goals.
In Chicago, IL? Chat with Tammy Jackson & Team.
Expert’s Insight on VA Loan Benefit
Owning a home is a key part of the American Dream, and VA home loans are a powerful benefit for those who’ve served our country. Contact real estate pros to make sure you have everything you need to make confident decisions in the housing market.
