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Russell Elam
Russell Elam
The Mortgage Pilot
NMLS #174514
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88% Of Veterans Aren't Using This Amazing Mortgage Benefit

88% Of Veterans Aren't Using This Amazing Mortgage Benefit

80% of the country’s veteran population are homeowners–compared with just 60% of non-veterans. This means that more veterans own homes than non-veterans, and yet only 13% of veterans in the U.S. have ever utilized their VA loan benefit. Check out some of the programs amazing advantages.

No Down Payment

One of the most valuable aspects of VA loans that they don’t require a down payment. In fact, 100% of the home’s value can be financed with a VA home loan. While veterans do need to pay a fee to the VA upon loan closing (this fee helps to keep the VA home loan program funded for other veterans in the future), the fee is less than even a minimum down payment on any other loan type

88% Of Veterans Aren't Using This Amazing Mortgage Benefit

100% Equity Cash Out

For veterans who already own homes, refinancing with a VA loan allows for the opportunity of 100% equity cash out. This is something many homeowners find to be extremely valuable, especially when it comes to saving for college or retirement, making home improvements, or even paying off higher interest debt such as credit cards or installment loans.

No Mortgage Insurance To Worry About

In addition to those great benefits, VA loans do not have any type of mortgage insurance premiums or private mortgage insurance costs. Even if the veteran purchases a home with a 0% down payment, there is no insurance cost to factor into the home’s monthly mortgage payment with a VA home loan.

88% Of Veterans Aren't Using This Amazing Mortgage Benefit

Lower Interest Rates

In the majority of instances, eligible veterans are offered lower mortgage rates on VA loans than on conventional or FHA loans.

Do I Qualify?

There are many questions about VA loans, but most people want to know if they’re eligible to obtain one. Both active and veteran military members are eligible for VA loans, as are, in some instances, their surviving spouses.

To gain a better understanding of if you’re eligible for a VA loan, then schedule a 15-minute consultation with me today!

Russell Elam

Russell Elam

The Mortgage Pilot NMLS #174514
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*Geneva Financial is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.
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*A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds the VA county limits. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit guidelines, and property limits. Geneva Financial is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency.
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