The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families.
The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. A VA loan may also have reduced closing costs and no prepayment penalties.
Additionally there are services that may be offered to veterans in danger of defaulting on their loans. VA home loans are available to military personnel that have either served 181 days during peacetime, 90 days during war, or a spouse of a serviceman either killed or missing in action.
Why Work With Selective Lending?
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Selective By Name, Exceptional By Choice-Personalized Lending That Puts You First
22+ Years of Lending Experience
Dedicated Trained Team
Fast Response Times
Flexible Structuring for First Time Borrowers or Investors
Direct Communication From Application to Closing
Various circumstances may affect loan qualification. All loan terms and information are subject to change without notice.