VA Home Loans in Minneapolis
If you're a veteran living or looking to relocate to Minneapolis, consider a VA home loan. While there are several government-guaranteed loans on the market available for veterans, the VA loan is likely the best. That it requires no cash out of pocket for a down payment allows our military members – both active and in veteran status – an inexpensive way to experience the benefits of home ownership. As a veteran, you have already sacrificed so much for our country, let us return the favor by making your dream of home ownership a reality!
Purchase a Home with Zero Down
Only the USDA loan can match the no down payment requirement of the VA loan. Then, because the veteran isn’t required to purchase private mort gage insurance (PMI), monthly payments are substantially lower than they would be with a conventional loan.
Interest rates are typically lower on a VA loan as well, bringing the payment down even more.
Advantages of a VA Loans
There are many benefits for veterans with a VA home loan. These include:
- No private mortgage insurance requirement.
- No down payment.
- You may be able to include the closing costs in the loan.
- The VA loan carries a government guarantee so qualifying is easier.
How to Qualify for a VA Loan
If you are an active or former member of the military you’ll need to meet certain requirements with regard to how long you served and the conditions under which you were discharged. Some National Guard members, Reservists and widows and widowers of service members may also qualify for a VA loan.
The application process is similar to that of a conventional loan with one exception. You’ll need a Certificate of Eligibility from the VA, which your lender can obtain via an online system. You can start the process without the certificate, so let’s get going!