HOW VA LOANS BENEFIT HOMEBUYERS
Saving up enough money to put a down payment on a home is difficult, and for members of the military who are serving their country a VA loan offers a way to get into a home easier. These loans are backed by the U.S. government, which allows mortgage lenders to loosen some of the most common restrictions that might otherwise hold you back from getting into a home that you love.
VA loans are available with no down payment for most borrowers, which can add up to tens of thousands of dollars in savings. Other no-down-payment or low-down-payment loans require that you pay private mortgage insurance (PMI) but VA loans do not have PMI. The credit score requirements for most VA loans are also lower than conventional loans, although it is still important to have the highest credit score possible and to take steps to improve your credit score if it is low.
At PRMI Houston, we are proud to honor and serve our veterans with special incentives and loan programs. The VA loan program has helped over 20 million families across the country with mortgage needs. These loans are specially designed for existing military, veterans, and families of military members.