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VA

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Ruben Garcia Mortgage Group - VA Loans

The Advantages of a VA Loan

Now more than ever the VA loan program has gained not only recognition but is coveted by more and more veterans each year.

VA purchase loans have increased year in and year out for eight (8) consecutive years!!!

The VA Loan program is the most powerful home loan program on the market for many eligible veterans, serving members and their families. These flexible, government-backed loans come with significant benefits that no other loan program on the market can offer. This, in turn, helps open the doors of homeownership to veterans who might otherwise struggle to obtain financing.

VA loans require no down payment or private mortgage insurance. Unlike many of the other loan down payment programs. A VA loan will save you money from day ONE! They feature competitive rates and terms and allow qualified borrowers to purchase a home with little to no money out of pocket.

Here are some of the AMAZING benefits:

1. No Down Payment Required!

Saving money and building credit can be difficult for service members who are constantly on the move. With the VA Loan, qualified borrowers can finance 100 percent of the home’s value without putting down a dime out of pocket! Even if you can put a good chunk of money down, you could instead use those funds to do some home improvements, remodel or pay off some debt.

2. No Private Mortgage Insurance (PMI)

Most conventional loans, as well as conforming loans that have less than a 20% down payment, require borrowers to pay private monthly mortgage insurance. Let’s face it, it’s not easy savings a 20 percent down payment. What’s private mortgage insurance (PMI)? It’s an insurance that protects lenders in case of a borrower default. If the borrower stops paying on their mortgage, this PMI guarantees the lender that they will get their money back. It is kind of like having full coverage auto insurance.

With a VA Loan, however, there is no PMI. This is because the federal government backs all VA Loans and assumes the risk on behalf of the borrower that is typically covered by the PMI. Yes, you’ve earned it!

Take a quick look at how much you would be roughly saving each month by avoiding mortgage insurance.

Monthly Savings by Avoiding PMI
Loan Amount
Loan Amount & Monthly Savings
Monthly Savings

$150,000

$
.oo/month

$250,000

$
.oo/month

$350,000

$
.oo/month

$450,000

$
.oo/month

3. Competitive Interest Rates

Interest rates on home loans are based on risk assumed by the bank to finance the loan. Because the VA backs each VA Loan the financial institution underwriting the loans carries vary little risk in offering this loan program. Rates can often be from ½ (0.50%) a percent to almost 1 (1.00%) full percent lower than a traditional loan on the market.

Let’s get started and get rid of your PMI

Get Started

$

20%

1%

4.375%

$
$
Want a Copy of the Results?

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

Want more information on VA loans?

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