VA Loans

Advantages:

• There’s no down payment required. You can achieve the American dream of home ownership much sooner.
• You don’t need to purchase private mortgage insurance. This saves you hundreds every month.
• Approval guidelines are more flexible: lower credit score (580), higher debt-to-income ratio (DTI), etc.
• There are limits on what VA borrowers can be charged in fees and closing costs.
• VA loans have lower average interest rates.
• There are no prepayment penalties should you want to pay off your loan early.
• Borrowers can apply for multiple VA loans throughout their lifetime. It’s not a one-time benefit.