Things Many Borrowers Don’t Know About VA Loans

VA Loans are the go to financing option for most military members. Most people know that VA loans do not require a down payment, and the borrower is not required to obtain mortgage insurance, both of which provide significant savings. One of the biggest misconceptions of a VA Loan is that the VA. issues it. In reality, the VA only guarantees the loan. A VA lender distributes the actual loan. One of best benefits of a VA loan that is not known to most is that there is no pre-payment penalty. Borrowers can extra payments whenever they choose which can save thousands of dollars over the life of the loan.  Researching VA loans is definitely worth the time if you are looking to buy a home. Read the full article here: