The most common question new home buyers often ask which type of loan is going to best suit them. FHA (see Federal Housing Administration) loans can offer some of the lowest down payments, with other loans even allowing homebuyers to qualify based on income from all the working members of the household.
If you have ever served in the military, the best loan option is known as the VA home loan. It’s the only home loan that has zero down payment, zero mortgage insurance, and rates that run lower than the conventional rates do.
A VA mortgage loan will incorporate some special features not offered in any other kind of loan. Many of these features can be quite unfamiliar to a new home buyer, but you really don’t need to be an expert on VA loans to enjoy the benefits.
Either way, starting to understand some of the facts about eligibility, va home loan entitlement, and funding fees will prepare you for the tricky process of buying a home.
- You can read the entire article at 3 Secrets For VA Home Buyers and many more insightful articles on the Home Loans For All blog.
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