What is a VA Loan?
A VA home loan is a particular type of mortgage backed by the U.S. Department of Veterans Affairs (VA). It was created in 1944 as part of the GI Bill following World War II. The VA loan serves as a reward for those serving and serving in the military. This type of mortgage has unique built-in benefits.
Who is eligible for a VA Loan?
- Active-Duty Personnel of the Air Force, Army, Marines, and Navy
- Veterans of the Air Force, Army, Marines, and Navy (Veterans must have an honorable discharge)
- Surviving spouses of veterans who died on active duty or died as a result of service-connected disabilities that do not remarry
- Certain spouses of active-duty personnel who are:
- Missing In Action
- Prisoner of War
What are the benefits of a VA Loan?
- No to little down payment required
- Competitive rates
- Limited closing costs
- No need for Private Mortgage Insurance
Apply with Anderson Brothers Bank for a VA Loan
- Trusted & Experienced
- Local Lenders
- Quick turnaround
- Hassle-free process
Anderson Brothers Bank NMLS# 410840