A VA home loan offers amazing benefits to all Colorado Springs, CO service members including Active duty, National Guard, Reserve and Retired Military. The more you understand about the VA home loan program, the more you will realize how easy it is to take advantage of this often misunderstood veteran benefit.
VA mortgage loans can be used for multiple reasons. You can purchase your first home, build a new home, refinance an existing mortgage or use your VA loan for a second time.
It might surprise you to know that more than 27 million veterans and service personnel are eligible for VA financing, yet many remain unaware of how they can use this benefit to purchase another home using their remaining or restored loan entitlement?
VA is Not a Lender
Many people mistakenly believe that VA lends the money and will qualify you to purchase a home. That is not the case. VA actually offers a guaranty to a lender that if you happen to default on a loan and the lender must foreclose, VA will insure that the lender will recoup a percentage of the loan balance.
Additional Benefits of a VA Mortgage:
- Zero Down, 100% financing
- No monthly PMI or private mortgage insurance EVER
- Flexible Credit Guidelines
- Low Interest Rates
- VA loans are assumable
- VA loans offer fixed rates and adjustable rates
- Seller can contribute towards the buyers closing costs making it possible to come to closing with very little money or no money out of pocket.
- You are able to pay off the loan at any time without penalty
PreQualify for a VA Loan in Colorado Springs
Whether you have used your VA eligibility previously or are using your VA benefits for the first time, we would love to help you understand the unique advantages of a VA Home Loan.
Start using your VA Benefits and be on your way to owning your new home by Pre-qualifying for a VA Loan Today.
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