Mortgage Loan Benefits for Veterans
A Veteran’s View on VA Loans
We sat down with our own service member, Dan Crumly, to learn more about VA Loans.
Q: What are VA Loans?
A: Veterans Affairs (VA) Loans are mortgages guaranteed by the US Department of Veterans Affairs. The program started in 1944 as a benefit to service members allowing them to buy homes without a down payment or excellent credit.
Q: What are some advantages to a VA Loan?
A: Some of the biggest reasons are:
- No Down Payment
- No Private Mortgage Insurance (PMI)
- No Prepayment Penalty
Q: How do Veterans qualify for a VA Loan?
A: You may be eligible if you meet one or more of the following:
- Served 90 consecutive days of active service during wartime
- Served 181 days of active service during peacetime
- Served more than 6 years in the National Guard or Reserves
Dan has served 5 years in the Army Reserve. He is currently with the 231st Transportation Company (Inland Cargo Transfer) in Athens, GA.Get Started
To learn more about VA Loan eligibility, contact one of our Mortgage Experts at 800/442-7792 to learn more.