veteran first time home buyer

VA Home Loans For First Time Home Buyers Whether you're a military veteran or a spouse, the veteran first time home buyer VA home loan program can help you purchase your dream home. You can enjoy benefits such as a low interest rate, no down payment, and PMI exemption. However, you'll want to meet certain qualifications.

You'll need to meet certain requirements before you can qualify for a VA loan. In general, you must have served in the armed forces for at least 24 continuous months. You must also have at least 90 days of service on active duty or six years of service with the National Guard.

The VA home loan program also offers you the opportunity to refinance your existing loan. This can save you thousands of dollars over the life of the loan. Depending on your qualifications, you can also enjoy lower monthly payments.

You also may qualify for down payment assistance through the Homes for Veterans program.

This program provides up to $15,000 to qualified buyers. However, you'll need to take a homebuyer education course and sign up with a participating lender.

You may also qualify for a CHFA loan if you're a surviving spouse of a veteran who died as a result of military service. This program is also available to unmarried surviving spouses of veterans who died as a result of service-connected disabilities.

The VA home loan program also offers an interest rate reduction for qualifying veterans with disabilities. This benefit can save you $30 to $70 a month for every $100,000 of home value.

This money can be put towards home improvements, moving costs, or retirement accounts.