VA’s Home Loans are More Than Just Buying a Home

The VA Home Loan Program has serviced over 20 million veterans and service members since its induction in 1944. Even with the rollercoaster housing market, borrowers who financed their home purchase with a VA loan had the lowest foreclosure rate over the past 19 quarters compared to all other types of home loans. This speaks volumes of the quality of program and its borrowers. One of the features that make VA loans so beneficial is that it can be reused to purchase another residence or to refinance at a lower rate. This is called an Interest Rate Reduction Refinance Loan (IRRRL). This program has saved veterans over $900 million in the two years it has been around. If you are interested in refinancing your VA home loan or purchasing a second home, be sure to speak with a VA home loan specialist. Read the full article here: http://www.blogs.va.gov/VAntage/9598/vas-home-loans-are-more-than-just-buying-a-home/