In 2019, the Dept. of Veterans Affairs celebrated the 75th Anniversary of the original GI Bill, which created the VA Home Loan benefit for Veterans. In recognition of the Veteran’s service to the Nation, one of the benefits provided by the GI Bill is the availability of home loans without a down payment. In addition, the Veteran may negotiate with the seller to pay all costs, resulting in the Veteran arriving at closing without any required funds!

VA guarantees a portion of the loan, enabling the lender to provide the Veteran with more favorable terms compared to other types of financing.  Some of the VA benefits include:

• No required down payment
• Lower interest rate than conventional financing
• No monthly private mortgage insurance premium requirement
• Payment of all closing costs and prepaid items may be negotiated with the seller
• No prepayment penalties
• Eligible to Veterans whether purchasing their first or subsequent home
• Your VA eligibility benefit may be used again with restoration
• VA guaranteed loans are assumable upon your buyer’s qualification by the lender
• Reduced property taxes for 100% service-connected disabled Veterans