Benefits You Should Know: VA Home Loan Guaranty
The VA Home Loan Guaranty is one of the most valuable benefits available to eligible Veterans, service members, and some surviving spouses, but it is also one of the most misunderstood.
A few key things to know:
• Private lenders provide the loan
• VA guarantees a portion of the loan
• VA-backed purchase loans often require no down payment
• VA loans do not require private mortgage insurance, or PMI
• Lenders may have different rates, fees, timelines, and requirements
The lender matters. If you are considering using your VA home loan benefit, do your research and work with a reputable lender who understands VA loans.
Ask questions about rates, fees, closing costs, funding fees, appraisals, timelines, and whether the lender regularly works with VA-backed loans.
Be careful with anyone who makes it sound too easy, pressures you to move fast, or cannot clearly explain the process.
Learn more directly from VA:
https://www.va.gov/housing-assistance/home-loans/
Please share this with a Veteran, service member, or surviving spouse who may be thinking about buying a home.
