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VA Loan: Great Benefit for Those Who Have Served Their Country

VA Loan: Great Benefit for Those Who Have Served Their Country

February 17th, 2015 | VA Loans, Appraisals

The VA home loan program is an incredible benefit for those who have served our country. This flexible financing option offers competitive interest rates and is one of only a few sources of no down payment home loans available today. Here’s something else you may not know: It’s designed to protect veterans by making sure the home they are purchasing meets certain standards.

The VA does this through an appraisal process. The goal is to ensure that veterans pay a fair price for their home and are purchasing a property that is structurally sound. There are generally two parts to VA appraisals:

The property’s value. A qualified appraiser will consider sales of similar properties in close proximity and the home’s size and features, among other factors, to estimate its value. The goal is to make sure a veteran doesn’t borrow more than their property is worth.

The property’s condition. Minimum Property Requirements are used to make sure the property being purchased meets certain standards, such as having a working furnace and a roof that’s structurally sound. These requirements aren’t meant to replace a home inspection. That’s always a good idea for any home purchase.

Have questions about a VA mortgage in Utah? We’re here to help you understand this great benefit designed for those who have served their country!



Your Local Utah Mortgage Broker

As a Utah mortgage broker we work with several different mortgage lenders, enabling us to offer you a variety of mortgage programs at the best mortgage rates and lowest fees available. Working with several lenders allows us to offer more options to help you achieve your goals. Whether you're buying a new home or refinance your current home, Advanced Funding is here to help. Our loan professionals are available to help you during regular business hours or time that is more suitable to your needs. Call today for more information, 801-272-0600.

Utah VA LOAN ADVANTAGE

Veterans Affairs mortgages, better known as VA loans, make it easier for veterans to get financing to buy a home. Utah VA loans usually do not require a down payment and are available to military veterans and active military members. The Utah VA mortgage remains one of the few mortgage options for borrowers who don’t have the money for a down payment. VA loans are somewhat easier to qualify for than conventional mortgages. It offers a great benefit to those who are serving or have served our country.

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Salt Lake City, UT 84121

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