What is a VA home loan and how do I know if I am eligible?
The Department of Veteran’s Affairs provides current servicemembers and veterans with a variety of different resources that can be very helpful. One such resource is VA Home Loans, which allow servicemembers, veterans, and their families to become homeowners. There are several benefits to obtaining a VA Home Loan. Some of these benefits include the following:
- When it comes time to buy a home, a VA loan can allow you to purchase without having to put down a downpayment or obtain private mortgage insurance. These VA-guaranteed loans are available to active duty servicemembers who have good credit and income to meet the financial obligations associated with owning the home.
- An Interest Rate Reduction Refinance Loan (sometimes referred to as the Streamline Refinance Loan) can allow individuals with an existing VA loan to lower the interest and monthly payments on the loan.
- Adapted Housing Grants are available through a VA loan to help permanently and totally disabled veterans to build or modify a home to suit the needs that are required as a result of their disability.
Contact our firm today if you need legal assistance with any real estate matters.
Joseph Gachko, Esq. is an experienced New Jersey attorney who can assist you in any of your estate or real estate-related legal matters. If you require legal counsel for your real estate matters, please contact The Law Office of Joseph Gachko today to set up a consultation.