5 Benefits of VA Loans | Things to Know Before Buying a House | Mortgage Lender

Are you a veteran and looking to buy a
house? I’ll share five benefits of using a VA loan to buy your house.
I’m Tino Martinez, Home Loan Originator at PrimeLending. Before we start, I’d
like to invite you to subscribe to my YouYube channel, and turn on that
notification bell, so you don’t miss any upcoming episodes that will help you
with your home financing. In talking with people in the last couple years, I’ve
found that some are aware that they’re eligible to use a VA loan, while
surprisingly, others knew very little about VA loans. So, let me tell you 5
benefits VA loans have that I think are the most important, or appealing ones. No downpayment you heard right; there’s no down payment required for a VA loan. This
is perhaps one of the biggest advantages to a VA loan. You can buy a house
immediately, rather than waiting years to save up for
a down payment. No lender fees on VA loans at PrimeLending. With the PrimeLending VALoan Program, we waive lender fees, so that saves you about $1,000 in
closing costs. I don’t know about you, but I think that’s a pretty cool advantage
when my team gets to do your loan. No PMI, or private mortgage insurance. Using a VA
loan saves you money upfront, and tremendously increases your buying power,
because you could afford a home worth, let’s say, 20 to 30 thousand dollars
higher than if you had to pay PMI. Really great benefit. Competitive rates. The VA
backs the mortgages on VA home loans, so this lowers the risk for mortgage
lenders, so these savings are passed on to veterans. Also, veterans take
homeownership seriously, so the foreclosure rates are much lower with VA
loans. So, again, less risk to mortgage lenders, which means lower rates, and more
affordable payments. Surviving spouses may be eligible. Unmarried husbands and
wives of service persons who were killed in action can buy a home with zero down
payment, no mortgage insurance, and funding fee waived. If this is you, I’m
sorry for your loss, but I hope this benefit will help you and your family
move forward. So, as you can see, there are some great benefits to VA home loans, and
even more so with PrimeLending’s VA Loan Program. Let’s get together and determine
your eligibility, that way you can take advantage of these benefits of buying
your home sooner than you were planning.

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