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A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and ...
Michael Anderson, a mortgage loan officer with Charter West Bank in the Omaha, Nebraska, area, said using the VA home loan program increases buying power. “Say you wanted to keep your payment at ...
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs (VA), specifically for eligible active-duty military, veterans and surviving spouses.
The National Housing Act of 1934 created the Federal Housing Administration (FHA), which was established primarily to increase home construction, reduce unemployment, and operate various loan insurance programs. [4] The FHA makes no loans, nor does it plan or build houses. As in the Veterans Administration's VA loan program, the applicant for ...
VA Home Loan Guaranty Service program helps veterans, service members, and eligible surviving spouses obtain, retain, and adapt homes. VA does not directly provide loans but instead facilitates the loan process by offering a partial guaranty of loans made by private lenders.
After closing, the VA will return your certificate of eligibility with a note stating that you have used (all or part) of your VA mortgage loan entitlement. Qualified borrowers can use their ...
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