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VA Loan Information
The more you know about the VA home loan program, the more you will realize how little "red tape" there
really is in using this veteran benefit.
Find out how easy it is to get started.
-- VA Pamphlet 26-4
The main purpose of the VA home loan program is to help veterans finance the purchase of homes
with favorable loan terms and at a rate of interest which is competitive with the rate charged
on other type of mortgage loans. This pamphlet should help you to understand what the
Department of Veterans Affairs
can and cannot do for the veteran home purchaser.
-- VA Pamphlet 26-6
This pamphlet is designed to help veterans planning to purchase or construct homes, particularly
those veterans who intend to finance with a
VA construction loan.
It does not try to discuss the arguments
for or against homeownership. It is up to each veteran to decide whether homeownership is
best for his or her family.
-- VA Pamphlet 26-71-01
The questions and answers included in this pamphlet about this
VA benefit are intended to cover major items of
interest to veterans interested in buying a manufactured (mobile) home with a VA mortgage.
-- VA Pamphlet 26-93-1
VA direct home loans are available to eligible Native American veterans who wish to purchase
or construct a home on trust lands with a VA mortgage.
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage
companies to eligible veterans for the purchase of a home which must be for their own personal
occupancy. To to use this VA benefit, a veteran must apply to a lender.
FREQUENTLY ASKED QUESTION # 1 [ -more VA Loan questions- ]
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Q: Definition of a VA Loan - What is a VA loan?
A: The VA loan began in 1944 through the original Servicemen's Readjustment Act, also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to provide housing and assistance for veterans and their families, and the dream of home ownership became a reality for millions of veterans.
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fails to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms.
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VALoans.com is a private company specializing in VA financing and is
not a government agency.
Remember, the VA does not make home loans. They insure the loans that we can assist you in getting.
Let us help you get a VA insured mortgage loan at the lowest possible rates.
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