VA Loans: The Advantages & Disadvantages
AuthorReal Estate Experts. Date:
VA loans are designed to help veterans and their families become homeowners with favorable terms and conditions. However, like any other type of mortgage loan, there are advantages and disadvantages associated with this type of loan. In this article, we’ll discuss the pros and cons of VA home loans so that you can decide if this type of financing is right for you. What is a VA Home Loan? VA home loans are mortgages backed by the U.S. Department of Veterans Affairs (VA). This means eligible service members and veterans can buy a home with little to no money down and without paying private mortgage insurance (PMI). The VA guarantees a portion of the loan, which protects the lender from loss if you default on the mortgage. This helps veterans and service members qualify for a loan that they might not otherwise be able to obtain. How VA Home Loans … Continued
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