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Why VA Loans Are The Best Loans on the Planet!


Backed by the U.S. Department of Veterans Affairs, VA loans are designed to help active-duty military personnel, veterans and certain other groups become homeowners at an affordable cost. A VA loan does not require a down payment, do not have mortgage insurance, allow for higher loan limits, and are easier to qualify for.


1. No Down Payment Required

Most home loan programs require at least a small down payment. A VA home loan does not. A VA loan allows the borrower to finance up to 100% of the purchase price. Only larger VA loans require down payments.

2. No Mortgage Insurance

Not only does a VA loan not require a down payment, it does not require the borrower to pay for monthly mortgage insurance.  Mortgage insurance is required for most loans with a down payment of less than 20 percent. This insurance protects the lender in the event that the borrower defaults on the loan. VA loans do not require mortgage insurance since they are guaranteed by the VA.  The absence of mortgage insurance saves the borrower thousands of dollars over time.

3. Great Interest Rates

VA rates are some of the lowest rates available.  As we write this, VA rates are significantly better than conventional and jumbo loan rates.  Low rates not only mean lower monthly payments, they also allow for VA borrowers to qualify for larger loans.

3. Lower Closing Costs

The VA limits the closing costs lenders that can charge to VA loan applicants. Only certain fees can be paid for by the VA applicant.  This again can save the applicant thousands of dollars.

4. Easy To Qualify

As compared to other loan programs, VA loan guidelines tend to be more flexible. Credit score requirements are a little lower, and debt to income ratios are a little higher.  Again, this is made possible because of the VA loan guaranty. The Department of Veterans Affairs genuinely wants to make it easier for active military and former military members to buy a home or refinance.

5. Assumable Financing

One of the best benefits of the VA loan is that the loan is assumable.  Most VA loans are assumable, which means that the loan can be transferred to a future home buyer if that person is also VA-eligible. Assumable loans can help save the new buyer thousands of dollars. If your home loan has today’s low rate and market rates rise in the future, the assumption features of your VA makes the home even more valuable.

Our Gratitude

At Dave Financial, we are honored to help our military.  We believe that the men and women that are serving, or have served our country deserve our best.  We will do everything we can to are the VA experts.  99% of the time, Dave Financial is able to help with the closing costs as a thank you to our service members.

The Team at Dave Financial


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