I came across this interesting read over at: www.arizona-va-homeloans. Here is a short copy of some of the content on VA home loans in Phoenix, AZ:
“Since Congress created it in 1944, the Veterans Administration Home Loan Guaranty program has assisted more than 20 million individuals who have served in the military to become homeowners. Created as a reward for their military service, the VA home loan program allows active military service members, National Guard and Reservist (who have served for at least six years) and veterans to obtain their dream home without emptying their wallets.
When compared to conventional loans, VA loans provide borrowers with a number of ways to save . VA mortgages offer 100% financing for well-qualified buyers, while conventional loans could require as much as 20% down. This high of a down payment for traditional mortgages often puts that dream home out of reach. Then there is the added costs of Private Mortgage Insurance.”
Read more here: Article
