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Personal FinanceUnlock Your Dream Home: VA Home Loans and Military Benefits Make it...

Unlock Your Dream Home: VA Home Loans and Military Benefits Make it Possible.

Like other government programs, VA Home Loans is an instrument used to help the veterans, but also to provide security to their potential future as homeowners. Through the years, VA Home Loans has managed to target specific groups of veterans and allowed them to easily access loans and fulfill their potential of being a homeowner.

Home buying under the VA and military benefits will always ease the financial burden for you because it would be much bearable. A VA home loan may be the best alternative by which you can finance your dream home with a small amount of advance payment ahead. Here’s what you need to know:Here’s what you need to know:

1. The cash you raise from the sale of the house can be used to pay 100% for your new home’s purchase price.

Through the VA loan path, you can finance entire purchase price of your home and you no require a down payment for the same. That is literally a huge difference in your quality of life because there is no need to sweat about putting aside funds for an advance payment.

2. Specific Qualification Requirements

The VA-guaranteed home loans are characterized by a list of eligibility criteria from the VA. Whether you want to know if you qualify or want to guide you through the application process, Home Loan expert from a financial services provider can be contacted for any questions.

3. No need to use Mortgage Insurance to get low interest loans.

Unlike conventional loans, in the case of VA mortgages, borrowers are not required to make loan payments that cover the insurance premium, and this includes cases when a down payment is not made at all. This will additionally provide the cost effect however, it also makes the process of owning your home much cheaper.

4. Apply colonist benefits from two fronts by Basic Allowance for Housing (BAH)

When you receive BAH, you can apply the BAH towards paying mortgage and, thereby, you can buy some or all of your monthly mortgage payment and, therefore, you can relieve the financial stress.

5. Flexible Credit Standards

We deal with different requirements of active duty military members and veterans and therefore, we are able to give a flexible lending solution to them. Even your credit history is not on our list, we’ll help you with safe and personalized financing.

6. Low-Cost VA Loan Options

The VA home loan program caters to a wide range of borrowers, including first-time buyers, repeat buyers, and those looking to refinance. With low-cost options, homeownership becomes within reach for many individuals and families.

7. No Pre-Payment Penalty

With a VA loan, there’s no penalty for making extra payments or paying off your loan ahead of schedule. This flexibility allows you to manage your finances effectively and potentially save on interest costs.

8. Fixed or Adjustable Interest Rates

VA loans offer both fixed and adjustable interest rates. A fixed rate ensures that your monthly payment remains consistent, making it easier to budget. Alternatively, an adjustable rate can offer a low initial rate for a set period, ideal for those planning to sell or refinance within a few years.

9. VA Automatic Approval Status

As an approved VA lender with VA Automatic Approval status, Academy Bank streamlines the loan process for our customers. You can work directly with us without having to coordinate with the VA separately, ensuring a smoother experience from start to finish.

10. Refinancing Options for Service Members

If you’re an active-duty service member looking to refinance your VA loan, it’s essential to consult with your legal counsel regarding any benefits that may be affected. Our team can guide you through the refinancing process and address any concerns you may have.

Ready to Get Started?

Whether you’re a first-time buyer or looking to refinance, Academy Bank is here to help you navigate the VA loan process. Visit our website to continue a saved application, access loan disclosures, or learn more about the home buying journey in our Education section. If you have questions, our FAQs page or customer service line are available to assist you.

Don’t see what you’re looking for? Explore our Compare Mortgage Loans page for additional options tailored to your needs.

Subject to credit approval. Fees apply. VA funding fee may apply. VA loan qualification guidelines apply.

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