VA Home Loans: 5 Reasons they Rock! [VIDEO]

If you have honorably served our country, it’s important for you to know about the benefits you have earned when it comes to buying a home.  As an 8 year Navy Veteran myself, I have obtained multiple VA Home Loans throughout the years and have personally experienced some of the tremendous opportunities that you can create for yourself when utilizing the VA Loan properly.

Related6 Reasons the VA Loan Blows Other Loans Away


Let’s discuss 5 reasons why the VA Home Loan is, in my opinion, one of the most valuable, if not THE most valuable, benefits of having served in the military.

1. A VA Loan allows you to purchase real estate for as little as NOTHING DOWN—that means as little as ZERO downpayment out of your pocket! If you were to use nearly any other loan program, even the low down-payment options, you’d still need to save up a chunk of cash to set aside for the down payment.

The exception to this is if you were to buy property for more than your county’s VA Loan limit—in this case $580,750 for San Diego County—you would need to place 25% of the amount OVER that limit as a down payment.  For example, if you were to buy a property for $600,000, you would need to place 25 percent of $19,250 (the amount above the limit) down, which is around $5,000.

2. Interest rates for VA Loans are typically the most competitive rates available out of any loan program.  With even a decent credit standing, a borrower can often get a lower rate than with an FHA or a Conventional loan!

3. There is no such thing as “Mortgage Insurance” with the VA Loan! With other low-downpayment programs for the general public, Mortgage Insurance is a required additional monthly premium owed by the borrower, which typically eats up hundreds of dollars a month! You don’t have to worry about that with the VA Loan.

4. You can use this loan for a detached single family home, a condo or townhome, or even a 2 to 4 unit income property, so long as you LIVE in one of the units for at least ONE YEAR. This means you can take your VA loan and go purchase a 4 unit with no money down, RENT OUT the other THREE units, and let your tenants pay your mortgage!

5. You can use this benefit for the rest of your life!  So long as you make your payments on time, you can sell your home and re-use the VA Loan again and again to purchase your next property with no money down!

Look, the VA loan is truly a great program and one that I believe very highly in.  In fact, I’ve used it multiple times to help me get to where I am today.  To get more information on the VA Loan program or other loan programs, OR for more information on buying or selling real estate, call us at (619) 537-6016.

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Let us know how we can help you!