Veteran Loans

Executive Compilation By John Noble

VA Mortgage Loans – If You Are a Veteran This is the Plan For You
Executive Summary By Frank L Froggatt

There are eligibility requirements, entitlements, uses, and  advantages that you will receive when using a VA loan as apposed to a regular mortgage loan.

The first thing that people need to know is that a VA loan is not really a loan. A VA loan is actually a loan guarantee process. While the VA does not actually give out loans it does guarantee banks that they will repay the loan if needed. Although every veteran is eligible for a VA loan through an automated certificate of eligibility sometimes there are small problems. If you aren’t certain if your credit is good enough to qualify for the loan it may be a good idea to find a credit counselor to help you to improve your overall credit rating. Income is also an important factor in obtaining your loan. There are a few things that make VA mortgage loans more beneficial then a regular mortgage loan. VA mortgage loans are definitely a great option for veterans that are looking to purchase a new home.

loans for veterans

Veterans Looking to Refinance? VA Loan Programs Have Big Credit Advantages
Executive Summary By Leslie Collins

VA Loan programs specifically tailored to Veterans refinancing needs are available and for years, have been helping US military personnel save money on monthly mortgage payments.

Refinance VA loan. The program is called IRRL or the “Interest Rate Reduction Loan” program.  IRRL is also known as the “VA Streamline Refinance” program, the two terms represent the same program.  Why do Vets love the IRRL program instead of a conventional refinance?  VA loan programs like IRRL do NOT penalize qualified military personnel for credit problems.

VA Home Loans With 100% Financing For Veterans and Active Military Members

Executive Summary By Josh Klenda

In the past few years we’ve seen both conventional loans and FHA loans tighten their credit and down payment requirements. That takes us back to some of the main advantages of the VA home loan.

The VA mortgage loan is 100% financing with no down payment required.  As of the middle of 2008 the maximum loan amount is now dependant on the Freddie Mac county specific loan limits. No monthly Mortgage Insurance Premiums. Credit flexibility – perfect credit isn’t required but poor credit borrowers will still have obstacles

Interest rates are competitive with conventional loans. You need to at least explore the VA home loan option before you make your mortgage decision. I suggest you speak with a VA Lender that specializes in VA financing.

Check out my other guides on Va Loans