Some of the benefits of the VA Mortgage Loan Program are:
• The VA Mortgage Loans is guaranteed for no money down up to $417,000 (depending on eligiblity)
• No monthly Home Owner’s Insurance is required
• Many VA Mortgage Loans are assumable
• It is easier to qualify for a VA Loan than a conventional loan
• VA Mortgage Loans can be refinanced
No Money Down Up to $417,000
You do not have to put any money down to qualify for a VA Home Mortgage Loan for up to $417,000. If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket cost. The loan and sales contract can be set up so that the VA Home Mortgage Loan cover 100% of the selling price and the seller covers the closing cost.