Benefits of a VA Loan
Posted on June 3, 2016
Realtors who specialize in selling real estate in Navarre, Pensacola and Perdido Key have to familiarize themselves with the VA loan. No ifs, ands, or buts about it. With such a strong military presence here, knowing the ins and outs of the programÂ just comes with the territory. The irony of it though, lies in the fact that most of the military members who qualify for the benefits of a VA loan are usually unsure of its value.
A recent study conducted by Florida Realtors, found that only 36% of 2,000 IAVA (Iraq and Afghanistan Veterans of America) surveyed had applied for a VA home loan. When they were asked why, some felt that it was inferior to a conventional mortgage, which isn’t true. Plain and simple. So, to help, Southern Real Estate Sales agents have complied a list of two major benefits to applying for a VA loan.
1. Down Payment Advice Isn’t Equal:Â One of the biggest draws to a VA loan is the fact that the buyer doesn’t have to put any money down. This can be slight disadvantage if a property receives multiple offers mainly because most sellers will use a portion of the down payment as a deposit.
2. Low Rates:Â Even though mortgage rates are at historic lows, interest rates associated with VA loans tend to be among the lowest of them all.
Learn more about applying for a VA loan and finding a military realtor in Pensacola who can help you find the right home at the right price with the right loan.
Blog Military, Pensacola, Real Estate, VA Loans