If you’re entitled to one of these brilliant mortgages — and a lot of veterans and active-duty servicemembers are — then chances are you should think about a VA mortgage loan.
What exactly is a VA mortgage loan?
The VA just isn’t home financing loan provider. Alternatively, it guarantees loans created by personal loan providers, meaning in the event that you default on your own loan, the VA will repay a few of the losings your loan provider may incur.
Due to this guarantee, loan providers are able to provide loans without a few of the demands of other loan kinds. A few of the plain items that set VA mortgage loans aside: