VA Benefits – Veterans Point Home Loans

VA Home Loan Benefits

With a VA Home Loan you can avoid a down payment, reduce your interest rate as well as closing costs and so much more.

The loan program, backed by the U.S. Department of Veterans Affairs, helps ensure the barrier to home ownership is lowered for active-duty military personnel, veterans and certain other individuals. If you’re unsure if you meet the criteria to receive a VA Home Loan, head over to our eligibility page to see if you qualify.

Here are a few of the ways a VA Home Loan can benefit you in the home buying process.

$0 down payment options - while most conventional home loans require a down payment, veterans and service members who qualify for a VA Loan are not required to have a down payment.
No monthly private mortgage insurance (PMI) - Typically, a conventional buyer will have to pay for private mortgage insurance, referred to as PMI, unless they are making a down payment of 20%. That can be a significant financial burden. With a VA Loan, you aren't required to pay PMI.
Highly competitive interest rates - VA Loans have offered borrowers the lowest average interest rates of all loan types.
No penalty for early payoff of your loan - Unlike conventional loans that often have a financial cost for paying them off early, you can pay off a VA Loan at any time without penalty.
Limitation on closing costs - VA Loan recipients can request sellers pay all loan related closing costs and up to 4% of the purchase price for prepaid taxes, insurance, and more.
Ability to qualify more easily than other loan products - Most conventional loans have stringent requirements. With a VA Loan, those requirements, including credit score, are relaxed.
Quick turn times.

If you have already verified your VA Loan eligibility Veteran Point Home Loans would love to assist you in the application process to get you qualified to make your home purchase.

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