In recent years, the popularity of VA loans has grown substantially. This popularity is closely tied to the number of veterans returning from duty and the incredible advantages the program offers. VA loans are available to veterans, service members and military families for the purchase of a primary residence or refinancing. 


The Department of Veteran Affairs does not lend money, but guarantees a portion of the loan, making it possible for lenders to offer favorable terms and competitive mortgage rates to veterans who qualify. Do you qualify for a VA loan? If so, here’s why it benefits you.

Benefits of a VA Loan


1. VA loans offer 100% financing, which means there is no need for a down payment and no monthly mortgage insurance requirement. You can purchase a home and use your savings for other necessities.

2. If you purchase a home with a VA loan, the mortgage is assumable. This means when you decide to sell your home, the buyer can assume your mortgage as long as they’re approved. If mortgage rates are on the rise, an assumable mortgage becomes much more attractive on the real estate market.

energy_efficient_improvements 3. You can also use your VA loan to make energy efficient improvements, such as installing solar heating or cooling systems. Other home improvements and repairs can also be accomplished with a VA loan.

4. Seller-paid closing costs are allowed with VA loans, as are seller concessions. Concessions are paid by the seller and can be used for such things as paying off your existing outstanding debts. This is an advantage that isn’t available with any other type of mortgage.

5. Once you have a VA loan, you can refinance through the IRRRL (Interest Rate Reduction Refinance Loan). This program is a VA, no cash-out refinance that doesn’t require extensive documentation or an appraisal. It’s designed to be a quick refinance for you, the VA homeowner.

6. A regular VA refinance is available for those who want cash-out or who are refinancing from a different type of mortgage program.

7. As long as you certify that you have previously lived in the original home that had a VA loan, you can use your VA entitlement to purchase another home with all of the same benefits offered.

When compared to other types of mortgages, the VA loan is one of the best housing aids offered to those who have served. If you’re eligible for a VA loan, it will be a program that continues to offer you benefits in the future.

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