Honoring Those Who Serve
Buying a home is the biggest purchase of someone’s life, and we want to make sure that veterans are aware of the options and benefits available to them.
What is a VA home loan?
Designed for veterans, active-duty military service members and their families who would like to buy a home, the VA home loan is guaranteed by the U.S. Department of Veterans Affairs and often offers fewer restrictions than other types of mortgages. VA home loans have no down payment, no private mortgage insurance (PMI), and competitive rates. With the VA home loan option, qualified veterans or active duty personnel can finance up to 100% of the purchase price of their home. For that reason, First National Bancorp LLC can offer a low interest rate, regardless of the down payment amount, with no private mortgage insurance payments.
Key Things to Remember
- VA home loans have no down payment, no PMI, low interest rates and usually easier qualification terms.
- Veterans can use basic allowance for housing to pay some or all of their monthly mortgage costs.
- The VA home loan allows borrowers to pay off their home loan at any point without having to worry about a pre-payment penalty.
- Veterans with conventional home loans now have the option to refinance to a VA home loan, often for a lower rate than a typical refinance.
- Active duty personnel
- Reservists/National Guard members
- Qualified surviving spouses
To learn more about which loan option is best for you, call 614-792-5626 to speak with one of our expert mortgage bankers or if you’re ready, get started today. We’re here to provide you with a clear path to home ownership!Apply Now