Full Transcript is Below:
– [Narrator] Are you a current or former military service member, or the spouse of a veteran? If you’re thinking about purchasing a home, one of the options that may be available to you is a Veterans Affairs or VA loan. A VA loan, is a mortgage that is partially backed by the department of Veterans Affairs, and is a great option for military buyers. There are many advantages. One, you can purchase your new home with no money down. Two, private mortgage insurance or PMI is not required. Three, interest rates may be lower than or comparable to many conventional loan programs. Four, flexible and more forgiving credit guidelines compared to conventional loans. Five, closing costs may be paid by the seller. Already have a VA loan and thinking about refinancing? A VA interest rate reduction loan or IRRL, is a quick and easy way to lower your interest rate and may not require a credit check, home appraisal, income documentation, or money out of pocket at closing. If you have questions about a VA loan, including eligibility requirements, the types of homes that qualify, purchase price limits, the VA funding fee, or if you’re interested in our other low or no down payment programs, contact one of our licensed loan officers to find out which home loan best fits your financial situation.