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What is a VA Home Loan?
VA Home Loans – A Valuable Benefit
A VA home loan is a great benefit to military personnel during and after their service. PrimeLending understands the importance of a “home base” for military and their families and is proud to be able to help active and retired military use this product to meet their unique needs.
VA home loans are partly guaranteed (typically a quarter of loan value) by the U.S. Department of Veterans Affairs and offers the following advantages:
- No down payment
- Higher loan value
- No private mortgage insurance
- Limit on closing costs
- Option for seller to pay closing costs
- No penalty fee for early payoffs
- Possible VA assistance if you have difficulty with payments