LA MORTGAGE SERVICES

 

 

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

v  Negotiable interest rates.

v  Closing costs are comparable and sometimes lower - than other financing types.

v  No private mortgage insurance requirement.

v  Right to prepay loan without penalties

v  The Mortgage can be taken over (or assumed) by the buyer when a home is sold.

v  Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.