Three VA Home Loan Advantages

Three VA Home Loan Advantages

Surviving Spouses Should Take Advantage of a VA Home Loan

If you are the spouse of a Veteran who committed suicide, chances are you’ve lost your dwelling and a vehicle or two. While the road back is hard, there is hope. One silver lining for you is the VA Home Loan program.

Originally known as the Servicemen’s Readjustment Act, passed in 1944, the VA was authorized to guarantee or insure home, farm, and business loans made to veterans by lending institutions. As of 2020, over 25 million VA home loans have been insured by the government.

Three, Actually Four, VA Home Loan Perks

No Down Payment Necessary

First off, homebuyers will usually need at least a 5 percent down payment for conventional loans or a 3.5 percent down payment for FHA financing. Being able to purchase with $0 down means VA borrowers don’t have to spend years saving to scrape together a big down payment. On a $200,000 loan, that’s $10,000 for conventional borrowers and $7,000 for FHA. For many first-time homebuyers, coming up with that kind of cash up can be challenging. 

Less Stringent Qualifications

Two: Many first-time homebuyers might not yet have a strong credit history, which can make it more difficult to get approval for a mortgage or qualify for an affordable interest rate. Since the VA Loan is government-backed, VA Loans are easier to qualify for at competitive rates.

No Private Mortgage Insurance Payments

Third: VA Loans don’t require the added monthly expense of private mortgage insurance (PMI). The average cost of private mortgage insurance for a conventional home loan ranges from 0.58% to 1.86% of the original loan amount per year. A convention that favors the insurance company and shields the lender, it is widely regarding as a huge annoyance to those who must pay it. But not for you, you’ll get to leave that monthly expense in your bank account.

One Extra Advantage

In addition, the competitive VA Loan rates can save a typical buyer thousands over the lifespan of the loan.


VA Home Loan Basics

A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and new construction. The VA does not originate loans, but sets the rules for who may qualify, issues minimum guidelines and requirements under which mortgages may be offered and financially guarantees loans that qualify under the program.


Our Veterans are killing themselves in record numbers mostly due to PTSD. An overmatched VA can’t take care of them or their families. We will.

Soldier suicide leaves Veteran families with thousands of dollars of bills unpaid, mostly bank loans.

We are the only nonprofit standing with the families after a veteran suicide. Stand with us.

Our Mission: Become the preferred channel for donors, advocates and volunteers who care about veteran families left behind after a soldier suicide.

Links for More Information:

 VA Home Loan Requirements

VA Home Loan Eligibility

VA Home Loan Apply

VA Home Loan Lender Reviews

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