Home Buyer Tips - VA Home Loans
Information on VA Home Loans including what they are and who can get them.
VA Home Loans
So you are thinking of buying a Salt Lake City home and you are a Veteran of the U.S. armed services. Should you consider a VA loan? Read on and find out what they are, if you can qualify and where you can get more information.
What Are VA Home Loans?
VA Home Loans were introduced to help Veterans finance the purchase of a home. It is worth noting that a VA Loan is not provided by VA, the actual loan is provided by a third party lending institute, such as a bank. mortgage company, private lender etc. To get a loan you apply to the lender and if approved VA guarantees the loan. The guarantee protects the lending institute if the owner fails to pay. A VA home loan may also provide you with other benefits, for example most loans will not require a down payment.
Are You Eligible For VA Loans?
In order to receive a VA Loan you must be an eligible veteran of the Navy, Army, Air Force or Coast Guard. To determine if you are eligible you must apply for a certificate of eligibility. Once a certificate has been issued you can then proceed with the normal home purchase process.
Want More Information on VA Loans?
Veteran Loan Center is the web resource for Vets to explore their VA benefits through the financing of a new home purchase or a refinance. If you are a Veteran of service with the Army, Navy, Air Force, or Coast Guard, please visit our site to begin the process of filling out a VA Loan Application by obtaining information on a Certificate of Eligibility.
If you already have a mortgage on a home and qualify under the VA, you may utilize your benefits and take advantage of continuously low interest rates by refinancing your equity today. In order to see if you qualify for a VA refinance, you may want to visit the official government site on VA Benefits.