Saluting Our Veterans

Saluting Our Veterans

One of the best home loan programs is reserved for our military veterans

Each November on Veterans Day, our nation pauses to salute the service and honor the sacrifice of the men and women who have served in our military. We owe a great debt to the courageous individuals who have defended our freedom at home and abroad.

Our military veterans sacrifice much to bring hope and liberty to people around the world. And when their service is over, they deserve to enjoy every aspect of the great American dream, including home ownership. The VA loan program provides them with that opportunity.

The VA loan program was created in 1944 as part of the GI Bill to expand access to home ownership for returning American veterans. Today, VA loans continue to offer affordable financing to help eligible veterans purchase homes when they return to civilian life.

VA loans, which are insured by the U.S. Department of Veterans Affairs, offer a wide range of advantages, including:

  • No down payment required with up to 100 percent loan-to-value (LTV)
  • No up-front mortgage insurance premium
  • No annual mortgage insurance premium
  • No prepayment penalty
  • Forbearance/assistance options
  • No maximum loan amount
Looking to refinance an existing VA loan? A traditional home loan typically requires you to have some equity in the house but a VA loan refinance offers financing for up to 100 percent of your home's value. You can also lower your mortgage interest rate by refinancing your existing VA loan with no closing costs through the VA Interest Rate Reduction Refinance Loan (IRRRL).
 
If you’re a veteran in search of a mortgage program that works for you, we’re here to help you learn more about VA loan programs. Or if you’re ready to review your options with an Alliance Home Loans expert, contact us today.
 
Happy Veteran's Day!

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