Benefits of a VA Home Loan

If you are a veteran looking to buy a new home, VA home loans in Jacksonville can provide you with everything you need. You’ve served your country; now, let your country serve you!

Here are just some of the benefits you’ll enjoy when it comes to buying a home:

*     No down payment: When you’re in the military and on the move, it can be quite a challenge to save money and stay on a budget. A VA home loan makes buying a home easier because you don’t have to put down any money. This means you can purchase your home faster, quickly giving you and your loved ones peace of mind. Traditional mortgages require at least a 10% down payment, and many families struggle with this – as a military veteran, you don’t have to.
*     No private mortgage insurance: Traditionally, unless you have 20% to put down on a home, you would need to pay an extra fee for private mortgage insurance. As a veteran, you know how tough saving up 20% can be. With a VA loan, you don’t need to pay any private insurance fee, which saves you money up front and throughout the term of your mortgage. The loan is backed by the federal government, and they assume the risk on the behalf of all borrowers.
*     Competitive interest rates: Because these loans are backed by the government, the financial institution’s risk is greatly reduced. This helps you get a more competitive interest rate, saving you money when compared to a conventional mortgage. Interest rates are set based on the amount of risk involved with the borrower (their credit rating, income, etc.), but as a veteran, you can rest assured that your interest rate will be affordable.

Carbon Capital has expert mortgage brokers that can help you obtain VA home loans in the Jacksonville area.

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