VA loans are known for making home purchases more affordable for veterans. But you might be surprised to discover how many purchase options come with a VA loan, some of which are exclusive to the VA loan benefit. The purpose of the VA loan is to make purchasing a safe, structurally sound, and sanitary home more accessible and affordable for qualifying servicemembers and veterans. There are a lot of ways the VA loan benefit helps veterans accomplish this.
Qualifying military veterans and servicemembers are entitled to use the VA loan benefit to purchase a home, as long as they meet the fundamental VA and mortgage lender requirements.
Government-backed loans are designed to make housing more affordable and attainable to more people. But not all government-backed loans are created equal.
For first-time homebuyers, the prospect of purchasing a home can be daunting, especially in a housing market where home prices and mortgage rates are constantly changing and you’re not sure if now is the right time to enter the market or not. How do you know that you’re ready to be a homeowner?
There are many ways to use your VA loan benefit and one of those is to purchase land to build a home on. The VA loan benefit cannot be used to purchase land specifically for the purpose of owning land. But if you are planning to build a home on the plot of land you are purchasing, a VA loan is a great way to finance your new construction.