The VA mortgage offers 100% financing to veterans and their spouses for the purchase of owner occupied homes. Some people don’t realize that they can use their VA benefits to buy up to a 4-family unit. You could live in one unit and have three other tenants pay your mortgage, even with no down payment. The VA Loan is a mortgage loan issued by approved lenders and guaranteed by the federal government. Since its inception, the VA Loan program has helped place more than 20 million veterans and their families into an affordable home financing situation.
There are 3 primary benefits of a VA Home Loan:
- No Down Payment
- No Private Mortgage Insurance
- Competitive Interest Rates
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