Question by KC: What are the benefits of using a VA Home Loan?
Best answer:
Answer by lulu muffin
Typically, if you get a VA loan, you will have a lower interest rate than at the bank. You also can get 100% financing while it is still considered a typical mortgage loan. Most mortgage loans that finance 100% of the cost are interest only or 20/80 loans, both of which have you paying nothing towards principal for a very long time in the loan. Meaning, that if housing costs continue to drop and you want to move, you still owe the bank the same amount that you bought the house for even though you have paid on in for years and cannot sell it for that much.
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