Are you an active member of the U.S. military or a veteran that has completed their term of service? If so, you have the potential to qualify for a loan guaranteed by the U.S. Department of Veteran Affairs. While VA loans do come with additional qualification barriers that not every home buyer will meet, these VA loans can be easier to obtain and potentially more flexible than conventional loans for those who do qualify.
VA Loans are offered specifically to active members of the military, veterans, members of the National Guard, as well as their spouses or widows that have not remarried. Assuming the borrower meets the qualifications previously specified, there is no minimum credit score required to be eligible for a VA loan from the government, although some lenders may enforce one. The additional flexibility is helpful for military families interested in purchasing a home that benefit from the additional flexibility.
VA loans do not require the lender to make a down payment on their new property. It is common for many other loan programs to require homeowners to place a certain percentage of money aside to cover a down payment; however, VA loans do not require a down payment or mortgage insurance.
Another added benefit of taking out a VA loan is that there is additional assistance offered to qualified borrowers who are struggling to pay back the mortgage on their home. The VA as an organization will help borrowers in the event that they begin having trouble making loan payments.
It is noteworthy to keep in mind that a VA loan will require a one-time fee that is dependent upon the size of the loan and the type of veteran applying. Although VA loans generally carry less costs than other types of loans, it is still good to keep this one-time fee in mind in order to plan accordingly.
For further queries, please Contact LoanLeader of America today and find out if you qualify for a VA loan for your home!
Extremely helpful and professional throughout the whole home buying process. Danny Schultz was available for anything we needed and treated every request with the urgency and efficiency you look for when dealing with the stressful task of buying a house. I have already recommended Loanleaders of America to my friends and family and will definitely continue too in the future. Thank you so much to Danny and the whole team at Loanleaders for making us feel like we were in good hands throughout every step of the way! If there was an option for more than 5 stars, this team deserves it!Jake M. from Chino, CA
First of all, thank you so much for the wonderful experience you provided during my home refinance. Andrew and Gina provided excellent service and communication. I will certainly be referring them and LoanLeaders to anyone I know who is looking for a loan. Thanks again!
Ann’ette P. from Woodland, WA
I would like to start off by saying that it was a pleasure to work with Zachary. He exemplifies what is to be considerate of the customer. He was always on his A game in helping in anyway that he could. He made himself available at all times and was very knowledgeable as well. Thanks for having him as a part of your team. He is truly an asset!Barrin H. from Homestead, FL
Jason was phenomenal! He worked with us through our issues, and helped us quickly with every roadblock we ran into. I definitely would recommend this mortgage company to anyone I know.Adam M from Elkins Park, PA
Rob has assisted my husband, myself and our families with many, many refinances over the past 7 years. He is very knowledgeable, responsive and goes the extra mile to find the right solution for each client. I would recommend him without hesitation!R Marienlun from Martinez, CA
Jeff did a great job for us with no problems closed on time was very helpful with all our questions. Even a couple years after the transaction was completed he is still there to help answer any questions that may come up.M Reimbold from Yorba Linda, CA