Virginia VA Loans
Virginia is a beautiful state that many people are deciding to relocate to, including veterans. The proximity of military bases in Virginia makes it a desirable place to settle down and purchase houses. The VA is aware of this, and has made it as easy as possible for military members and veterans to buy houses across the state. By using a Virginia VA Loan, you can take advantage of the many benefits that make homeownership easy and affordable.
No Down Payment
When you go through the VA to purchase your new house, you will not be required to provide a down payment. This is one of the best benefits offered by the VA, especially for first time homeowners who don’t have the capital saved up for a down payment. With a conventional loan you can expect to pay anywhere from 5 – 20% for a down payment, making it impossible for many people to afford their dream house.
Additional Benefits
Besides the no down payment feature, you get a multitude of benefits when you use a VA Loan for you new house. Because the VA guarantees a portion of your loan, you will not have to pay private monthly mortgage insurance. Your monthly payments will be even lower than with a conventional loan because in many situations you may be able to negotiate an interest rate that is lower than the current market rate. Other benefits include flexible repayment plans, minimal closing costs and easy refinancing.
How to Qualify
In order to qualify for a Virginia VA Loan you must have served 181 days of regular active-duty service. This timeframe also applies to veterans as long as they were discharged under honorable circumstances. If you qualify, you will then need to fill out an eligibility form with the VA. Once you have been approved the VA will issue a Certificate of Eligibility which you will then need to present to your lender.
Buying a new house in Virginia has never been easier or more affordable with a VA Loan. When you go through the VA for your home loan you get to reap the many benefits and have the full support of the VA if you ever run into any problems in the future.
Virginia Metro Areas
Norfolk, Virginia Beach, Newport News VA Loans
Get Qualified Today
Qualifying for a VA loan has never been easier than it is now. Just fill out our 1-minute quote request form and you can begin comparing rates and offers today!
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