Skip To Content

    Benefits of a VA Loan

    Q.I think I’m eligible for a VA loan. What are the benefits of using this loan program?

    VA loans are great loan options for Military Servicemembers and Veterans including Reservists as well as some Civil Servants employed in eligible areas determined by VA. Eligibility is based upon length of service. Spouses of military members who died while on active duty or as result of a service-connected disability may also be eligible.

    Here are 6 quick things you need to know about VA loans:

    1. VA loans are a zero down payment option.
    2. VA loans are available for purchase or refinance (VA to VA Interest rate reduction or regular VA refinance) and even include jumbo VA loan options!
    3. VA loans are available for single-family homes, VA approved condos, townhomes, and 2-4 unit properties, provided the dwelling will be the borrower’s primary residence
    4. VA loan entitlement is reusable – if you’ve used your VA entitlement before you may still be entitled to another VA loan! In some cases, you may be able to retain your current home that has an existing VA loan and purchase another using your Bonus entitlement.
    5. VA loans do require a VA Funding Fee which may be less than mortgage insurance that is required on conventional mortgage financing. VA loans also do not have a prepayment penalty.
    6. VA loans may be available despite previous foreclosure or bankruptcy.
    Connect With Mortgage Banker

    Trackback from your site.

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the North Metro Atlanta area.

    Cheryl Cloud

    Cheryl Cloud NMLS# 545242

    Senior Mortgage Originator
    BankSouth Mortgage
    175 Townpark Drive, Ste 125
    Kennesaw, GA 30144
    Visit my website
    Apply for a loan
    Mobile: (404) 310-3753
    Fax: (678) 680-5677

    Let me know how I can assist you with your North Metro Atlanta mortgage needs. I am here to help!

    Contact Us Now

    Any questions, comments, or feedback