How VA Loans Can Help You Buy a Home

<article class="post-1062727 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-1062727"><span class="entry-date">May 27, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">How VA Loans Can Help You Buy a Home</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=How+VA+Loans+Can+Help+You+Buy+a+Home&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhow-va-loans-can-help-you-buy-a-home%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p>For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own <a href="https://www.simplifyingthemarket.com/2024/05/09/the-top-2-reasons-to-consider-a-newly-built-home/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">homes</a>. If you or someone you know has served in the military, it’s important to learn about this program and its benefits.</p>
<p>Here are some key things to know about VA loans before <a href="https://www.simplifyingthemarket.com/2024/05/07/tips-for-younger-homebuyers-how-to-make-your-dream-a-reality/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">buying a home</a>.</p>
<h4><strong>Top Benefits of VA Home Loans</strong></h4>
<p>VA home loans make it easier for veterans to buy a home, and they’re a great perk for those who qualify. <a href="https://benefits.va.gov/HOMELOANS/documents/docs/VA_Buyers_Guide.pdf" rel="noopener noreferrer" target="_blank">According</a> to the <em>Department of Veteran Affairs,</em> some benefits include:</p>
<ul>
<li><strong>Options for No Down Payment: </strong>Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home. <em>The Associated Press</em> <a href="https://apnews.com/buyline-personal-finance/article/how-do-va-loans-work#:~:text=VA%20loans%20have%20many%20benefits,charge%20an%20upfront%20funding%20fee." rel="noopener noreferrer" target="_blank">says</a>:</li>
</ul>
<blockquote><p><em>“. . . about 90% of VA loans are used to purchase a home with no money down.”</em></p></blockquote>
<ul>
<li><strong>Don’t Require Private Mortgage Insurance (PMI): </strong>Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their <a href="https://www.simplifyingthemarket.com/2024/04/18/is-it-getting-more-affordable-to-buy-a-home/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">monthly housing costs</a>.</li>
<li><strong>Limited Closing Costs: </strong>There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal.<strong> </strong><em> </em></li>
</ul>
<p>An article from <em>Veterans United</em> sums up how remarkable this loan can be:</p>
<blockquote><p><em>“For the vast majority of military borrowers, </em><strong><em>VA loans represent the most powerful lending program on the market</em></strong><em>. These flexible, $0-down payment mortgages have helped more than 24 million service members become homeowners since 1944.”</em></p></blockquote>
<h3>Bottom Line</h3>
<p><a href="https://www.simplifyingthemarket.com/2024/05/01/the-perks-of-buying-over-renting/" rel="noopener noreferrer" target="_blank">Owning a home</a> is the American Dream. Veterans give a lot to protect our country, and one way to honor them is by making sure they know about VA home loans.</p>
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