Veterans Affairs (VA) loans are loans provided to active-duty military and veterans. These loans are guaranteed by the U.S. Department of Veteran Affairs. For those who qualify, VA loans are usually easier to obtain than conventional loans.
Active members of the military, veterans, and members of the National Guard qualify for VA loans. And, granted they do not remarry, spouses of deceased military members or veterans are also eligible for these types of loans, if the deceased spouse died while on active duty. There is no minimum credit score required to be eligible for a VA loan from the government, although some lenders may enforce one.
One benefit qualifying personnel receive when taking out a VA loan is the absence of a required down payment. While many other loans require a certain amount of money set aside for a down payment, VA loans don’t require a down payment or even mortgage insurance.
Another benefit of taking out a VA loan is the assistance offered to those struggling to pay back the mortgage. The VA as an organization will step in and negotiate with a lender when the borrower is having trouble paying the loan payments.
Keep in mind, when choosing to take out a VA loan a one-time fee will still be required, the amount dependent upon the size of the loan and the type of veteran applying. Even though VA loans generally carry less costs than other types of loans, it is still good to keep this one-time fee in mind.
For further queries, please Contact The Kolesar Team today and find out if you qualify for a VA loan!
Brendan and the team are as good as it gets! I’ve done multiple transactions through them over the past 5 years now and I guarantee you will be happy you used them.Scott Brouse
We embarked on our loan process thinking we would use an out of state loan agent we had used in the past despite our real estate agents recommendation of Brendan and team. After a couple hiccups with our other our other loan agent, we called Brendan. We were so impressed from the start with his clear communication and up front information. He, Tiffiney and Shannon remained responsive and thoroughly knowledgeable of every facet of the loan process. There were no unexpected surprises, everything that was possible was communicated from the start. We had an unbelievably unstressful experience! I wish they could have handled our escrow process too. You won’t be disappointed with the service they provide.Erica Sampo
Brendan and his team were an absolute pleasure to work with. They kept me informed during every step of my home purchase. I was able to get quick answers to all of my questions. I could not have asked for a more seamless process in purchasing a home. Thank you so much for all of your teams hard work and dedication. This truly has been an excellent experience and my daughter and I are looking forward to settling into our new home. Thanks again!Greg Simpson
We cannot say enough about our real estate agent, Chris Fox, and Sean Stanfield with the Kolesar Team at Home Point Financial! Their professionalism, caring nature, extensive knowledge, and ongoing communication was impressive. Throughout our home buying process, they were extremely patient and responsive, which helped make this experience enjoyable (and definitely not stressful)! The entire team is trustworthy, and we highly recommend them for your next real estate transaction!Kelli Bremonte Cardenas
Brendan and his team were wonderful. I have never experienced a service like it. Everything was so stress free and his team were EXCELLENT with their communication. When you meet someone and they tell you “don’t worry, I’m here to handle it all” it does put you at ease and Brendan was that man! Thank you, thank you, thank you, for making my recent house purchase so easy and (dare I say it?) fun! I especially love the kooky videos they send you which explains everything in very easy to understand terms.Debbie Price