VA Loans are some of the most impactful and flexible lending options on the market. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
The most significant benefit of a VA loan is the borrower’s ability to purchase with no money down, meaning the loan is 100% financed. Along with more flexible underwriting standards and requirements, these loans come with no private mortgage insurance (PMI), another monthly expense that borrowers who put less than 20 percent down are required to pay. If you qualify for a VA loan, please give us a call to learn more about your unique options.