There was a time when Veterans Administration (VA) loans were so time-consuming to obtain that lenders did not want to process them and home sellers were likely to reject offers from buyers planning to finance with VA loans. Thanks to changes in the system, it has become much easier to take advantage of the unique benefits offered by VA loans.
VA loans are offered through the Veterans Administration, a U.S. government organization that provides benefits and services to eligible veterans, active duty, reservists and National Guard members along with their families. While the VA does encourage lenders to offer these loans by guaranteeing to repay a significant percentage of any loan that goes into default, VA loans are actually made by private lenders, not by the VA itself. This means that the lender, not the VA, determines whether a borrower is eligible for a loan and what loan terms the borrower qualifies for. As such, it's still important to shop around for the best deal on a VA mortgage.
Click here to read: The Unique Advantages Of VA Mortgages...
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