More than 21 million Veterans and Service persons live in the U.S. today, but only about 6% of them bought a home using a VA loan in the past five years.
Even fewer have refinanced.
Those percentages could be much higher. Eligible Veterans often bypass the VA home loan for more expensive programs.
For most, that’s a mistake.
VA Home Purchase
Buying a home with a VA loan is probably the least costly way to do it.
VA loans do not require mortgage insurance. That’s a savings of $150 per month on a $250,000 home, according to mortgage insurance provider MGIC.
And, there’s no down payment required. Instead of saving for years to put 5-10% down on a home, you go directly to home shopping immediately. And, VA loans are more lenient on credit history than just about any loan type.
If you’ve been sitting on the sidelines, waiting for the right time to buy, now could be the perfect time.
VA loan rates are low, and more Veterans are getting approved.
>>Click here to check your eligibility now<<
The VA IRRRL program stands for Interest Rate Reduction Refinancing Loan. It’s meant to reduce the veteran’s VA loan rate quickly and easily.
It requires no pay stubs, no W2s, no appraisal. No kidding.
That reduces the time and effort required for Veterans to get into today’s record-low rates.
There is no better refinance product on the market, but it’s only for Veterans who have VA loans currently.
For other Veteran homeowners, the VA cash-out refinance allows you to refinance out of any loan type, get rid of mortgage insurance, drop your rate, and turn home equity into cash, if you’d like.
Most Veterans would pay more and cost themselves more time by choosing a non-VA refinance.
Military VA Loan has sponsored this content.