Today at Aceland Mortgage we would like to take the time to honor our veterans and active duty service members. Above all, we appreciate the sacrifice all the men and women of the United States Military have made for our country. They protect our nation and allow us to continue in the pursuit of the American Dream. We’d also like to discuss the home VA loans benefits our service members have earned through their service.
VA Loans
These are mortgage loans that have the backing of Department of Veteran’s Affairs. They offer loans for purchases and refinances. Lenders offering these loans must follow the regulations and underwriting requirements put in place by the Department of Veterans Affairs.
Who is Eligible:
Borrowers of these loans must meet the eligibility requirements set by the Department of Veteran’s Affairs. These are available to both veterans, active duty and reserve service members.
To check out specific eligibility information for VA loans, click here.
Benefits of VA Loans:
- No Down Payment Required: Veterans can take advantage of these loans without having to make a down payment. These go up to 100% financing allowing veterans to purchase a home without having to save thousands first.
- No Private Mortgage Insurance: They do not require private mortgage insurance on their loans. Borrowers can take advantage of loans up to 100% loan to value without paying the annual premium of PMI.
- Funding Fee: There is a funding fee associated with utilizing a loan, however, it costs less than the payments of private mortgage insurance over time. The funding fee may be paid for at the time of closing or it may be added onto the loan.
How We Can Help:
Aceland Mortgage is proud to be a mortgage lender offering VA Home Loans to our veterans. We are proud to offer both VA purchase loans and VA Interest Rate Reduction Refinance Loans. Check out our page for more information. Give us a call for more information or to apply for a loan today.
Once again we’d like to express our utmost appreciation for all our military service members do to uphold and protect our freedoms. Happy Veterans Day.