Las Vegas VA Loans
Right now is the perfect time to buy a new house with a VA Loan in Las Vegas. The VA Home Loan Guaranty Program has extended great benefits to its military members in order to help them afford houses across the US. While housing prices can be pricey in Las Vegas, with the help of a VA Loan you will be able to afford the house of your dreams for you and your family. Here are some of the great benefits that make the home loan process easy and inexpensive for veterans.
No Money Down
With a conventional loan in Las Vegas, most lenders require you to supply a down payment that is around 20% of the total cost of the loan. With a VA Loan, you won’t have to supply any money down. You will be able to qualify for a loan in the upper-six figures right now and still not be required to supply a down payment on the property, making it possible for veterans with no money saved up to still be able to afford houses.
No Private Mortgage Insurance
While it is possible to find some conventional loans with a low or no-down payment feature, they usually require the borrower to pay for costly private mortgage insurance (PMI). VA Loans do not require you to purchase any additional insurance because a portion of the loan is already guaranteed for you. This helps greatly reduce your overall monthly bills.
Flexible Repayment Plans
Not everyone can afford to make the same payments, which is why the VA offers five different types of repayment plans to help suit individual needs. For people who love stability, the traditional fixed is the ideal plan. For new couples who need more cash in their pockets in the beginning, there’s a graduated payments mortgage that increases slowly overtime and caps off in the sixth year.
Low Interest Rates
With a VA Guaranty, you will be able to take advantage of really low interest rates. In some cases, this rate may even be below the current mortgage market rate.
Get Pre-approved Today!
We have a team of VA home specialists waiting to help you get started with your Las Vegas VA Loan today. Simply fill out our secure online 1 minute VA Loan form