Veteran Loans


A VA loan is a great mortgage loan available through a program established by the United States Department of Veterans Affairs. VA loans assist service members, veterans, and eligible surviving spouses to become homeowners.

Benefits of VA Loans

  • There is no down payment  except when it’s required by the lender, or if the purchase price is above the established property value.
  • There is no private mortgage insurance premium requirement.
  • Closing costs are limited and may be paid by the seller.
  • The lender may not charge a prepayment penalty.
  • Assistance is available from the VA to help borrowers avoid default.
  • Many states offer additional benefits to veterans such as property tax reductions.

Types of VA and FHA Loans

VA loans, FHA loans and other loans insured by departments of the United States government are secured through the Government National Mortgage Association (GNMA).

The VA offers several types of mortgage loans to help veterans and their families.

  • VA home purchase loans help veterans to purchase a home at a competitive interest rate. Often these purchase loans do not require a down payment or private mortgage insurance.
  • Cash out refinance loans allow veteran mortgage holders to borrow against home equity to pay off debt, fund school, or make home improvements. This refinancing option offers a new mortgage for a larger amount than the existing note and converts home equity into cash.
  • The Interest Rate Reduction Refinance Loan (IRRRL) makes it easier for borrowers to get lower interest rates by refinancing an existing VA loan. This a VA-loan-to-VA-loan process, which allows homeowners to refinance a fixed loan at a lower interest rate or to convert an adjustable rate mortgage (ARM) into a fixed rate mortgage.
  • The Native American Direct Loan Program helps eligible Native American veterans finance the purchase, construction, or improvement of homes on federal trust land. Reduction in interest rates also come with these loans.
  • Adapted Housing Grants help Veterans with a permanent and total service-connected disability purchase or build an adapted home or to modify an existing home for their disability.

So that’s all for today, hope you found this article useful so far and don’t hesitate in reaching me out if you have any questions or need a consultation.

Stay hungry and stay positive!

Make it a great day,

Sean La Rue

Facebook: https://www.facebook.com/SeanLaRueHomeLoans/

Instagram: @seanlaruehomeloansLinkedin: https://www.linkedin.com/company/sean-la-rue-sr-vice-president-franklin-loan-center/

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About Sean La Rue

Sean lives in the Palm Desert area and works with Franklin Loan Center as the Senior Vice President. Sean is ready to provide you the concierge level-of-service experience in purchasing or refinancing a home in Palm Springs, Palm Desert, La Quinta, Rancho Mirage, Coachella, Indio, or anywhere in California. His commitment is to treat your home loan like his own because he cares about your family.

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