Today I want to focus on a topic that, for veterans, may seem obvious, but for many outside of military circles, can be confusing: the VA Guarantee Loan. This loan has been around since 1944. It is a benefit you earn for your service in the military. These loans have remained solid during the current shaky real estate crisis. VA loans have a lower default rate than other types of loans, and for this reason, you can be proud of your VA loan if you have one. If you don’t, please talke to us about qualifying for one. Even those veterans who have conventional mortgages can refinance into a VA loan and possibly reduce their interest rate as well as take advantage of the other perks that come with a VA loan. One of the reasons that VA loans are so stable is that veterans have to qualify for their loans on income, credit, and many other factors.
Many Veterans find themselves in conventional or other types of loans simply because the lender they used knew little about VA loans, and it was more convenient for the lender to sidestep the extra effort to get a Veteran into a VA loan. Here at Creekside Mortgage, we have our customers’ interests at heart. In addition to our close working relationship with the Regional VA office, we specialize in VA loans, so we can leverage all of the benefits available for our borrowers.
Floyd N. Greenwald, U.S. Army Retired, Sr. VA Loan Specialist