When most people think of VA loans, they think of young service members and military families who are looking to purchase their first houses. While this scenario does apply to a number of borrowers, VA home purchase loans are also available to individuals or families looking to purchase a new home that is not their first, whether or not any home they previously owned was bought with the assistance of a VA loan. In fact, even though “home purchase loan” is the commonly used phrase, this kind of VA loan can be used in a variety of different ways.
Because the Department of Veterans Affairs backs all VA loans, promising to cover the rest of the payments if the borrowers should default, lenders have greater motivation to work with borrowers seeking VA loans than if the same borrowers were seeking conventional loans, regardless of certain financial difficulties or a rocky credit history. VA loans feature a number of other benefits over conventional loans:
With the wide variety of options for using VA loans and with all the fantastic benefits they provide to borrowers, why wait any longer to get the process started? The family of VA loan specialists and lenders at Fortress VA Loans is qualified to answer any questions you may have. We’ll be by your side from the very first prequalification questions until you close on the home of your dreams.