Key Differences of VA Loans vs Conventional Loans

 

Our service personnel and veterans give so much to our country. While they
sacrifice much, there are a few special benefits that only these service men and
women can take advantage of; one of the best benefits is the VA Loan.
The VA Loan differs from a Conventional Loan in a number of ways. While both
provide great interest rates for borrowers and are both backed by US
Government guarantee programs, this is where the similarities end.

Key Differences/Advantages of the VA Loan:

• 0% Down Options – VA Loans offer the option of a 0% down payment vs
conventional loans which need 10-20% minimum down payment.

• No Private Mortgage Insurance Required

• More Lenient Credit Qualifications – FICO scores are used for both
conventional and VA Loans, but VA Loans consider a lower threshold for
loans while still offering favorable interest rates.

• Can Be Used More Than Once – VA Loan borrowers can regain their
eligibility for a VA Loan without giving up their first loan. In other words, if a
service member wishes/needs to rent out their current home to move, they
can regain their eligibility and use the VA Loan Programs again.
VA Loans is a great benefit for our service men and women who give so much to
their country.

Leave a Reply

Your email address will not be published. Required fields are marked *

$
$

CONNECT WITH US