Everything i should know about a Va loan...

​A VA loan is a type of mortgage loan offered to
active-duty military personnel, veterans, and 
their eligible family members.


Here's everything you need to know about VA loans:



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1. VA loans are backed by the Department of Veterans Affairs (VA), making them more attractive to lenders and borrowers.
2. VA loans offer several benefits, including lower interest rates, no down payment requirement, and no private mortgage insurance (PMI) requirement.
3. VA loans can be used to purchase a home, refinance an existing mortgage, or make home improvements.
4. To be eligible for a VA loan, you must be a current or former U.S. military member, a veteran's surviving spouse, or an eligible family member.
5. You'll need a Certificate of Eligibility (COE) from the VA to apply for a VA loan.
6. VA loans have more lenient credit and income requirements than traditional mortgages, making them easier to qualify.
7. The VA has a funding fee typically added to the loan amount. However, this fee can be waived for disabled veterans or their surviving spouses.
8. VA loans are assumable, which means that if you sell your home, the new buyer can take over your existing VA loan.
9. VA loans have some restrictions on the types of properties that can be financed, such as single-family homes, condos, and multi-unit properties up to four units.
10. VA loans are an excellent option for military personnel and veterans who want to take advantage of the benefits they offer. If you're eligible, consider getting a VA loan to buy your next home or refinance your existing mortgage. 

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