FHA VA Home Purchase Programs

FHA Programs for Veterans - Home Purchase Assistance

Thousands of veterans use their VA Loan benefit every single month. It allows  the FHA to help borrowers  lower their monthly payments, lower their interest rate and purchase a home with $0 down.

Whether you’re a first-time home buyer or wish to downsize into a smaller place, an FHA Veteran Home Loan can save you a lot of money by giving you a very low rate with no monthly mortgage insurance. The qualification for an FHA VA home loan are much easier compared to a conventional mortgage. If you have been disabled in service, the VA provides additional benefits, saving you even more money.

  • Veterans
  • Active duty personnel
  • Certain reservists and National Guard members
  • Surviving spouses of persons who die on active duty or die as a result of service-connected disabilities
  • Certain spouses of active duty personnel who are (a) missing in action, (b) captured in line of duty by a hostile force, or (c) forcibly detained by a foreign government or power

  FHA VA Home Loan Program Benefits:
 

  • No out-of-pocket costs

  • No income verification

  • No credit check

  • No mortgage insurance premiums

  • No appraisal costs
     

   You should also know that

  • You don’t have to be a first-time homebuyer.
  • You can reuse the benefit.
  • VA-backed loans are assumable, as long as the person assuming the loan qualifies.
The qualification guidelines are less stringent for VA Loans. Because the loan is backed by the government, banks have relaxed the often strict lending rules for VA Loan applications making them easier to obtain.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 
 
 
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