VA home loans are not an option for everyone, and many of those who are eligible do not even realize that they are eligible. The VA home loan program was created in 1944 as one of the benefits offered to veterans in order to help them buy a home. Since its inception, the VA home loan program has helped more than 18 million veterans and active duty service members achieve home ownership. More than 67 years later, the VA home loan program remains one of the most progressive lending programs in the market.

Many people think that VA Mortgages come directly from the VA, but this is actually not the case. A VA mortgage must come from a mortgage lender, usually a bank. The VA does, however, insure up to 25% of each VA home loan and dictates the guidelines of the program to make certain that veteran borrowers are treated fairly. Because of this guarantee from the VA, lenders like us have the confidence to provide eligible military members with low interest rates and flexible loan terms.

Probably the most attractive benefit of the VA home loan program is that there is no down payment required. 100% of the home's appraised value can be financed with a VA loan. A second benefit is that while a conventional or FHA home loan would require mortgage insurance if a 20% down payment is not made, a VA mortgage requires no mortgage insurance of any kind. And a third benefit of a VA home loan is that all closing costs are regulated by the VA to ensure that all VA-eligible borrowers are treated equally and fairly.

The requirements to obtain a VA home loan are also much more flexible than those of a conventional loan. Approved VA lenders like vamortgage411.com don't need to see perfect credit, which enables us to help many veterans who may not have otherwise been able to secure financing. VA loans also have lower income requirements than conventional loans and allow high debt-to-income ratios as well. In fact, about 80% of VA loan borrowers could not have qualified for a conventional loan. The VA home loan program is one of our nation's ways of saying "Thank You" to the millions of men and women who have served us so faithfully over so many years.

I'd like to wish all of our active duty and retired service members Happy Holidays and a Happy New Year.

Welcome Home to our brave troops!

 

California VA Home Loans.

Gilbert Ramos

Apply online at www.vamortgage411.com

800-896-5333 Direct