Military Mom and Daughter get a VA Loan from University Lending Group

Guaranteed by the VA

A VA loan is a type of mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA). These loans are designed to help eligible military veterans, active-duty service members, and certain eligible surviving spouses buy a home.

The veteran must have served in the military for a minimum of 90 days during wartime or 181 consecutive days during peacetime. Surviving spouses of veterans who died in the line of duty may also be eligible for a VA loan.

Excellent benefits

Some of the key benefits of VA loans include:

  • No down payment: VA loans do not require a down payment, making it easier for veterans to buy a home.
  • No private mortgage insurance (PMI): Unlike other types of loans, VA loans do not require PMI, which can add hundreds of dollars to a monthly mortgage payment.
  • Low interest rates: VA loans often have lower interest rates compared to conventional loans, which can result in lower monthly payments.
  • No prepayment penalties: VA loans do not have prepayment penalties, which means borrowers can pay off your mortgage early without incurring extra fees.
  • Relaxed credit standards: VA loans have more relaxed credit standards compared to conventional loans, making it easier for veterans with lower credit scores to qualify for a loan.
Military Veterans get mortgages with University Lending Group

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