5 Things You May Not Know About VA Home Loans
Drew Mortgage Associates
Introduction A VA loan is the most flexible home loan program, which can be helpful when purchasing a home. American veterans, military members currently serving in the U.S military, and surviving spouses can benefit from a VA home loan. It gives a borrower the ability to build or buy a home. This program is helpful for brave military members who are disabled due to service-related injuries. This presentation will put some light on the essential information you may not know about VA home loans.
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1
VA Loans Can Be Taken Out Multiple Times
● Veterans can take out VA loans as many times as they need as long as they can pay off each loan. ● Can obtain a new VA loans even if they are currently going through a foreclosure. ● No limit on the number of times a veteran can use the VA home loan program
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2
VA Loans Are For Certain Types of Homes
● Made for move-in ready properties ● Includes single family homes, condominiums, modular housing, and multi-unit properties. ● Not for buying a working farm or a fixer-upper.
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3
VA Loans Are For Primary Residence Only
● Made for move-in ready properties ● Includes single family homes, condominiums, modular housing, and multi-unit properties. ● Not for buying a working farm or a fixer-upper.
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4 VA Home Loans Are Not Issued by the United States Department of Veterans Affairs (VA) â—? The VA is not a direct lender and it does not issue VA home loans. â—? It is made through a private lender and guaranteed by the VA.
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5 VA Loans Are Guaranteed By The VA â—? VA Loans are made through private lenders like mortgage companies to eligible veterans and are guaranteed by the VA. â—? The lender is protected against loss if the borrower fails to repay the loan.
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Bottom Line VA loans are much easier to qualify than a conventional mortgage loan. If you’re an American veteran, military member currently serving in the U.S military, or surviving spouse looking for a home loan
Contact us: 1-877-949-3739
www.drewmortgage.com
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Contact us: 1-877-949-3739
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DREW MORTGAGE BRANCH OFFICES: Drew Mortgage Associates 196 Boston Turnpike Road Shrewsbury, MA 01545 Phone: 508-753-1656 Website: https://www.drewmortgage.com/
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Boston Mortgage Lenders
1 Mt Pleasant Drive Peabody, MA 01960 Phone: (978) 750-1080
232 Commercial St Boston, MA 02109 Phone: (617) 523-3060
Contact us: 1-877-949-3739
www.drewmortgage.com