The remaining gap between Latinos and Hispanics in terms of homeownership is narrowing, according to a new report from Veterans United Home Loans, and much of the reason is because of the Department of Veterans Affairs loan program.
The Department of Veterans Affairs (VA) offers low-interest mortgages to members of the armed forces (active duty and veterans). VA loans don't require down payments or private mortgage insurance, and closing costs are generally capped and may be paid by the seller.
Paying off your Department of Veterans Affairs-backed home loan early has many advantages and may actually be easier than you think.
For American soldiers and their families, looking for inexpensive housing has long been a part of their life. And it's never been more difficult than since the Covid-19 outbreak sent the US real estate market into a boom.
The Department of Veterans Affairs offers a variety of benefits to borrowers who take out a home loan. One of those benefits is, there is no down payment required. In addition, there is no mortgage insurance required, and prices are low.
Do you have a VA Loan? Has Covid-19 negatively affected your financial situation? A VA-guaranteed loan provides many safeguards to those experiencing financial hardship in the aftermath of COVID-19. One of those safeguards is your ability to get a forbearance or temporary pause of payments on your VA Loan.