VA Loan Rates are Helped by the Government, Saving Veterans Money
One of the biggest advantages of a VA loan is the loan is partially guaranteed by the US government. This guaranty is often referred to as a veteran’s entitlement. VA Lenders know that if the loan goes into default, they will not suffer as large a loss. Since the risk is less, the VA loan rate is normally lower than with conventional products not backed by the government.
VA Loans Have No Monthly PMI
When you factor in that VA Loans do not require PMI the savings are even greater. PMI is a monthly premium charged on most other loans if the borrower does not make a down payment of at least 20%. Depending on the loan amount, it can add up to hundreds of dollars a month. Once again, since VA loans are backed by the government, PMI is not required.
What These Savings Mean To You
Low Rates and no PMI give you more buying power, enabling you to purchase a nicer home for the same monthly payment. Since VA loans do not require a down payment, it also saves you a bundle upfront. Many people think that VA loans are more difficult to process. Florida Veterans Home Loans works exclusively with VA mortgages, and has streamlined the VA application process. Customer service is our top priority, and seamlessly helping you obtain a VA mortgage is our number one goal.
Get Started Today With Your VA Loan Request!
To speak with Chris or one of his team of VA Home Loan specialists about taking the next step toward prequalification, call us at 866-704-2826 or complete our quick-and-easy request form. We'll be happy to contact you and discuss your next steps.
We look forward to assisting you.
By submitting your request, you are not obligating yourself. You are simply asking to be contacted by one of our talented specialists who can answer your questions. Florida Veterans Home Loans works exclusively with military families and we have helped people all across Florida understand the VA loan process.