Pennsylvania VA Loans
For qualified veterans interested in relocating to Pennsylvania, right now is a great time to buy or build a new house with a VA Loan. The VA has been helping millions of veterans and their families afford the homes of their dreams since 1944 through the VA Home Loan Guaranty Program. Today, veterans are still taking advantage of the many benefits of using a VA Loan that have made this such a popular program.
No Down Payment
When you apply for a VA Loan in Pennsylvania, you are not required to supply a down payment on the house. With a conventional loan you might have to pay up to 20% of the total cost of the house for a down payment which can get quite expensive for big family homes. The no-down payment feature is one of the greatest benefits extended to veterans and their families, making homeownership incredibly affordable.
There are many great benefits associated with a Pennsylvania VA Loan in addition to the no-down payment feature. With a VA Loan you won’t be required to pay private monthly mortgage insurance because the VA already guarantees a portion of the loan for you. The other great benefits that make VA Loans easy and affordable include: minimal closing fees, individual repayment plans, low interest rates, quick approval and streamlined refinancing.
How to Qualify
If you are a current member of the military, you can qualify for a VA Loan in Pennsylvania after serving a minimum of 181 days of regular active-duty service. Veterans who were honorably discharged from the military also qualify after serving this length of time. If you fit the guidelines, you will then need to fill out an eligibility form with the VA who will then issue you a Certificate of Eligibility (COE). You also have the option of having your lender send in your form for you.
Right now is a great time for veterans and current military personnel to apply for VA Loans in Pennsylvania. Fill out our quick, secure form to get started on your loan today. It only takes a minute and you’ll be on your way to taking advantage of the huge benefits the VA has to offer!