Other Government-Backed Mortgage Programs
Each borrower's goals and situation are unique. As a borrower seeking the security and affordability of a government-backed loan, there are some cases in which one program offers benefits better-suited for a borrower than does another. It can be beneficial for a Veteran to go over numbers and details about other programs, such as those offered by FHA, and choose the loan that offers the best overall fit.
Our goal is to help put Veterans and their families in the best government-backed loan possible. To do this, the available government program offerings are reviewed, and the borrower is assisted in selecting the loan that will yield the best overall situation.
FHA Loans
Many Veterans opt to go with an FHA loan. An FHA loan, like a VA loan, is a mortgage loan secured by the federal government.
An FHA loan, though, is secured by insurance through the Federal Housing Administration rather than the guaranty of the Veteran's Administration.
Like VA Loans, FHA loans lower the barriers to homeownership by providing consumers with favorable loan terms, and lowering down payments and other costs. There are important differences between FHA Loans and VA Loans. Which is best for you will depend on your individual situation.
VA Mortgage FAQ's
How will getting a VA loan affect my other VA benefits like pension and health care?
Many veterans wonder how one VA benefit affects another, particularly when it comes to home loans. Truth is, the home loan guaranty program, pensions and healthcare are all separate VA benefits. A common misconception is that VA loans are cash from the government to buy homes. In ... View FAQ
What are the income requirements for VA loans?
Income qualifying for a VA home loan is a topic that gets asked about often. Like all loans, VA mortgages have certain qualifying requirements. These are established by the VA. The established debt-to-income threshold for VA loans is 41%. Typically, if a veteran's monthly debt obligation is ... View FAQ
Other Veteran Loan Questions | Ask a Question
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VA or FHA- What's the Right Home Loan for You?
When examining the home loan programs of the Federal Government, one may wonder whether a VA home loan or an FHA mortgage is more appropriate. There are definite differences ... Read More
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