The VA Loan Advantage
Purchasing a first home is an exciting milestone in any person’s life. For some, the process may also seem very intimidating. That’s why our representatives, are available to help guide homebuyers and answer any questions they may have. Please don’t hesitate to give us a call toll free at 888-256-8076.
Homepath Lending VA Loan program (VA Loan Advantage) is the most powerful home loan program on the market for veterans and military families. These flexible, government-backed loans come with significant benefits that open the doors of homeownership to veterans who might otherwise struggle to obtain financing.
VA Loan (VA Loan Advantage) vs. Traditional Mortgages
Military homebuyers have access to one of the most unique and powerful loan programs ever created. See how the VA Loan compares to a traditional home mortgage:
VA Loan Advantage
0% Down (for qualified borrowers)
VA Loans are among the last 0% down home loans available on the market today.
Since VA Loans are government backed, banks do not require you to buy Private Mortgage Insurance.
Competitive Interest Rates
The VA guaranty gives lenders a greater degree of safety and flexibility, which typically means a more competitive rate than non-VA loans.
Easier to Qualify
Because the loan is backed by the government, banks assume less risk and have less stringent qualification standards for VA Loans, making them easier to obtain.
Up to 20% Down
Conventional loans generally require down payments that can reach up to 20% to secure a home loan, pushing them out of reach for many homebuyers.
Private Mortgage Insurance is a requirement for borrowers who finance more than 80% of their home's value, tacking on additional monthly expenses.
Increased Risk for Lenders
Without government backing, banks are taking on more risk which, in turn, can result in a less-competitive interest rate on your home loan.
Standard Qualification Procedures
Conventional options hold stricter qualification procedures that can put homeownership out of reach for some homebuyers.
No Pre-Payment Penalty
With many different types of loans, paying off a home loan before it matures results in a pre-payment penalty. This is because lenders miss out on additional opportunities to collect interest payments. The pre-payment penalty is a way for financial institutions to recoup some of that money.
The VA Loan Advantage program, allows borrowers to pay off their home loan at any point without having to worry about a pre-payment penalty. With the absence of a pre-payment penalty, borrowers are free to consider future home purchases and refinancing options.
Learn more about VA Loan Advantage rates by contacting Homepath Lending VA Home Loans at 888-256-8076 to speak with an expert about the benefits of the VA loan.
All loans require approval and proof of eligibility and are subject to the complete terms and conditions outlined in the loan agreement documents.
Call 888-256-8076 to speak with one of our VA mortgage specialists, or