The Benefits of Choosing a VA Loan for Your Home | Trusted American Mortgage

If you are a veteran, we thank you for your service! The sacrifices and time commitment you gave to our country cannot be repaid. It can be tough out there when it comes to finding your feet in the civilian world when you are out of the service, but thankfully, there are programs to help you navigate this new life.

A VA home loan is a loan program we offer to veterans that is a federally guaranteed home loan. There are many benefits of choosing a VA loan for your mortgage, and we explain a few of those benefits below.

What Are the Benefits of a Home Loan?

One of the greatest benefits of using a VA loan is that it does not require any sort of down payment. You can finance the entire home without having to put a large chunk of money down. We all know that men and women don’t enter the service for the large paychecks, so it is a helpful benefit to be able to get into a home without having to save up for a down payment.

In addition, it is a bit easier to qualify for a VA loan and there are competitive interest rates available that can be taken advantage of. It may also offer reduced closing costs, which can help significantly reduce the amount of money needed at closing.

Who Is Eligible For a VA Loan?

Veterans, of course! However, there are some stipulations in place to protect the benefit from being taken advantage of. Qualifying veterans must not have dishonorably discharged and must have served at least 90 days. Wartime/conflict veterans, peacetime service, the reserves and National Guard, and even surviving spouses of a qualifying veteran all qualify for a VA loan.

Applying for a VA loan is simple with Trusted American Mortgage. We put our veterans first and can help walk you through the process from start to finish. You will just need a Certificate of Eligibility from the Veterans Administration as well as Proof of Military Service from a VA Eligibility Center.

Are There Disadvantages to a VA Loan?

Like with anything, there are drawbacks and potential considerations when it comes to VA loans. Since there are a few more documents to collect and steps to take during the VA loan process, some sellers may be hesitant to choose your offer. They could also be stricter on negotiating the final price of the home if they are responsible for paying any of the closing costs.

Another drawback is that there is less flexibility when it comes to the purpose of the home you are buying. You are not allowed to purchase the home and use it solely as a rental property, so a conventional loan would be your solution if you are looking to supplement your income.

In any case, our team can help you navigate your next mortgage through a VA loan! Contact us today to learn more about this wonderful veteran benefit.

Is a VA loan right for you? Contact us to find out.