VA Loan
VA loans, backed by the Department of Veterans Affairs, are designed to help veterans, active duty servicemembers, and qualifying spouses access affordable mortgages and housing.
What is a VA Loan?
A VA loan is issued by a financial lender such as a bank, credit union, or mortgage provider and backed by the federal government. However, thanks to these home loans’ federal backing, they require less of an up-front investment by potential borrowers.
In effect, under the terms of a VA loan, the government provides a measure of guarantee to the lender. This typically allows financial lenders to provide program applicants loans under more favorable terms than with conventional or FHA loan programs.
What’s the Next Step?
Doing your homework on the basics of mortgage lending early on can set you up for success. Mortgages are not one-size-fits-all products, so you need to know how they work and how they differ from one another. This will help you find what’s best for your situation.
After you’ve obtained your mortgage, take a breather – you just took a major step. Keep your credit clean, avoid taking out other loans or lines of credit.
Do I Qualify?
Take the first step toward the right mortgage. Apply online for expert recommendations from The Mortgage Professionals, Inc..
- Purchase/Refinance
- Cash-out
- First-time Home Buyers
- Great Rates