Top 5 Benefits of the VA Home Loan Program


[upbeat music]>>Text: Mark Connors,
VA Home Loan Guaranty Service>>Speaking: VA guaranteed loan program, it’s actually a benefit. It’s a benefit that Veterans have earned. The mission of Loan Guaranty Service is to help Veterans attain, retain, and adapt their homes. Let’s talk about some of the benefits; probably the one that comes to mind first is it’s 100 percent financing.>>Text: Top Five Benefits of the VA Home Loan Benefit>>Text: 100% financing: no down payment. As far as I know, that’s the only program out there that you can get 100 percent financing on; and what that really means is that you don’t have to make a down payment. Another significant benefit that the program offers is that with a VA loan you don’t pay PMI,>>Text: No PMI or private mortgage insurance, and holy cow that will save you a lot of money over the course of your loan. Another tremendous benefit has to do with the appraisals;>>Text: VA appraisal: safe, sound, and sanitary and the appraiser goes out and in addition to determining the value of the home, one of the things that the appraiser does is helps ensure that the home is safe, sound, and sanitary. And that goes back to being a benefit. We don’t want to put a Veteran in — or their family — into a home unless it is safe, sound, or sanitary. Retention. Home ownership retention was one>>Text: Top Five Benefits of the VA Home Loan Benefit>>Text: Home retention help one of our primary missions. Well, if a Veteran were to experience financial difficulty down the road, perhaps there was was a temporary period of unemployment, VA will work with the borrower and the lender and we will bring to bear all tools that we have available to us in order to help the Veterans and their family members stay in that home; and one other thing that I would like to mention, and this is not so much a benefit that is associated with VA loans, but I think it’s important to note that state and local taxing authorities>>Text: State and local benefits often provide tax relief benefits to Veterans, and particularly Veterans that have suffered disabilities and are in receipt of service-connected disability income, and so I would encourage all Veterans, whether they use their VA Home Loan or another home loan product, to check with your local and state taxing authorities to see what benefits may be available to you. And, again, the Home Loan program: It’s a benefit that you have earned, and we try to ensure that as many Veterans as possible are able to take advantage of this tremendous benefit.>>Text: TO LEARNS MORE ABOUT
VA’s HOME LOAN
GUARNTY PROGRAM, VISIT www.benefits.va.gov/homeloans

Paul Whisler

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