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  • Writer's pictureVadim Shtil

7 Benefits of VA Loans

Updated: May 2, 2022

Author: Vadim Shtil

I can’t tell you how many times I’ve met Veterans who are in their 60’s who tell me they’ve never taken advantage of the VA Loan Program because they worried that government loans come with red tape and piles of paperwork. I want to dispel those rumors by sharing the great benefits of VA Loans.

No Down Payment A Veteran’s Down Payment was already made by serving our country!

No Private Mortgage Insurance

Mortgage Insurance is paid for the life of an FHA Loan, and on Conventional until the buyer has 20% ownership equity in their home. Not paying for PMI offers huge savings to Veterans.

No Loan Limit

Unlike Conventional and FHA loans, which have loan limits tied to the county, VA Loans have no limit. The amount that can be borrowed is solely based on income qualification. That means Veterans can be more competitive buyers in counties like Riverside and San Bernardino which have low conforming loan limits, set at $562,350 for FHA and $647,200 for Conventional.

Competitive Interest Rates

The VA Loan program has the lowest average interest rates on the market so this helps Vets save money every month on their mortgage and gives them more purchasing power as buyers.

Lifetime Benefit & Investment Tool

Vets can use their VA Benefit multiple times! And don’t forget, a Veteran can purchase upto a 4-plex as long they owner-occupy one of the units, making the VA Loan a great investment tool for building intergenerational wealth by purchasing a multi family home where the tenants pay the mortgage!

Relaxed Credit Requirements

VA guidelines relating to credit and debt-to-income ratios are far more relaxed to encourage homeownership amongst Veterans

Variety of VA Loans

VA Loans aren’t just for buying a home. Veterans can use the VA Loan to refinance, or to pull cash out from their home’s equity.

Veterans, thank you for your service to our great nation. At Shtil Group we are here to serve you and help you navigate your VA Loan Benefit every step of the way!

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