No down payment. It takes an average of 12.5 years to save up the 20% down payment required on a conventional home loan².  Luckily, veterans can skip that step and become homeowners without waiting until they have tens of thousands of dollars.  In fact, the VA loan program will allow you to purchase a home with as little as 0% down. In the current economic climate, it just makes good financial sense to own your own home.  While interest rates remain low, you’ll be surprised at how affordable it is buying vs. renting. See if you qualify>

 I already have a VA mortgage. VA mortgage benefits don’t end once you’ve purchased your home.  With a VA Streamline Refinance or Interest Reduction Refinance Loan (IRRRL), you have access to one of the greatest features of a VA mortgage – the ability to reduce your existing rate by refinancing easily and with little or no out-of-pocket expenses.

Once you’ve been approved for your initial VA purchase loan, you can refinance without the documentation typically required by a bank. This can be especially helpful for veterans who may have experienced a significant change in circumstances such as the loss of a job, a bankruptcy, or significant decrease in home value.

VA streamline refinance loans can often be completed within a month’s time, so check your eligibility to start saving today>

 I purchased my home but did NOT use my VA benefits.

Depending on the lender, beneficiaries can transition to a VA loan for up to 100% of their home’s appraised value. That means any amount above your current mortgage balance and below the home’s value can be withdrawn as cash. What’s more, there are no restrictions on what this money can be used for.

Paying off your high-interest credit cards with your new VA loan can also provide substantial tax savings. Interest paid on credit cards is not tax-deductible, but any cash you may get from a VA loan is typically tax-free.  In fact, it may actually reduce the amount of tax you may have to pay on your income because 100% of the interest on your VA mortgage is tax-deductible.  See how much cash you’re eligible for with your VA loan>

VA mortgage benefits are one of the ways we honor the people who have given up so much for the freedoms we all enjoy.  Let us thank you for your service by making sure you get the benefits you deserve.