In Current Economic Crisis, VA Home Loans Outrank All Others in Housing Market
VA Mortgage Center.com, a private company specializing in VA loans, recently appeared in a New York Times article for its expert knowledge and advice about VA home loans -- a niche market that is succeeding albeit the current housing situation. In a time when many Americans are struggling to obtain a home loan, the VA loan offers United States veterans and service members an option with benefits unlike any other; surprisingly, few service members are aware they are entitled to those benefits. VA Mortgage Center.com wants to spread that knowledge. Jay Romano, writer for The New York Times Real Estate Q&A, interviewed VA Mortgage Center.com CEO Nathan Long about "The Ins and Outs of a VA loan."
"A VA loan allows an eligible service member to get 100 percent financing on a home without having to pay for private mortgage insurance," Long was quoted in the article. He explained that typically, "if a purchaser borrows more than 80 percent of the value of a home, the lender requires him or her to purchase mortgage insurance."
The VA home loan is guaranteed by the United States Department of Veterans Affairs, which not only relieves the borrower of paying private mortgage insurance, but also requires no money down. The loan allows sellers to pay closing costs, has looser credit and income standards and is easier to qualify for than a conventional loan. read more
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