Department of Veterans Affairs (VA)
The VA is a valuable resource for veterans and persons in or leaving military service who are looking to purchase a home. This department helps veterans acquire homes with little or no down payment. It also protects the lender against loss if the homeowner does not make mortgage payments. Additional benefits include:
- financing 100% of the value of the property
- flexibility of negotiating interest rates with the lender
- free mortgage insurance
- limitation on buyer's closing costs
- rights to prepay without penalty
More information on the VA's Home Loan Program can be found at http://www.Homeloans.VA.Gov.
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