Men and women of the U.S. military may be eligible for VA loans and take advantage of some great mortgage terms. According to the Census, the female civilian veteran population has increased steadily from 1.2 million in 2008 to 1.9 million in 2010. You go, girls!
VA offers the same great VA home loan benefits for men and women
The VA expects the women veteran population to grow to nearly 15% percent of the total veteran population by 2030. Still, there have always been many more men serving in the military than women. For both men and women, the VA offers the same great VA home loan benefits.
- Zero down payment required for loans up to the conforming limit
- 100% maximum loan-to-value ratio on refinances
- No monthly private mortgage insurance premiums
- No pre-payment penalties
- Relaxed qualifying standards
- Competitive interest rates
- Streamline rate reduction refinancing
- Loan assumption
- Free mortgage counseling
VA home loans up to $417,000 for qualified borrowers
VA home loans up to $417,000 can be obtained in mostU.S.areas (more in certain high-cost regions). To obtain a VA loan of any amount, each veteran must qualify with credit and income. Remember, VA qualifying standards are less stringent than those of conventional loan programs. And, the VA guarantee makes veterans mortgages secure so borrowers don’t need down payments or private mortgage insurance. These are just two of the distinct advantages VA loans have over other mortgage programs.
For more information about VA mortgages for men and women of the military, contact an experienced loan professional.
iFreedom Direct is a top national VA lender that specializes in assisting active members and retired veterans of the Armed Forces with VA loans.