You’ve probably heard of a VA Home Loan, especially if you are a member of the military or a veteran of our armed forces. But, are you aware of all of the benefits of a VA Home Loan? More importantly, did you know you can still use down payment programs, closing cost programs, or tax credits with a VA Home Loan? keep reading
You may know about the VA home loan program for veterans—featuring zero down payment loans with competitive interest rates and flexible underwriting—but you may be surprised to learn that in recent years demand has led to even more programs and organizations working to meet veteran housing needs.
Why? There are approximately 22 million veterans in the U.S., many of whom are eligible for VA benefits. In fact, veterans are the fastest growing part of the market today.
VA loans perform very well with default rates as low as or lower than the conventional market. Lenders and other partners want to work with these qualified and eligible homebuyers. To that end, more financial institutions and homebuilders are partnering with nonprofits to help veterans find affordable housing. National housing columnist Ken Harney reviews some of the growing programs in his latest column.
In addition, Businessweek reports that the Department of Housing and Urban Development (HUD) is urging mortgage insurers that rely on Fannie Mae and Freddie Mac for business to offer supplemental protection for lenders to military members and veterans.
It’s important to note that VA loans can also be paired with other down payment and closing cost programs, even though the loan requires zero percent down. keep reading
Are you serving those who serve our country? You may be surprised to know how many homebuyer programs exist for our veterans and active duty service men and women. Join us for a live webinar that will explore the vast and growing military housing opportunity. (Hint: it’s much broader than you may think!) We will interview the PenFed Foundation’s Dan Schenk about the Dream Makers Grant, available nationwide, and how to better serve veteran and military clients.
The webinar will be held Wednesday, September 18 at 2 p.m. Eastern (11 a.m. Pacific). Register today – seating is limited.