Denver Home Loans

Purchasing a home is something that many adults dream of. But when the bulk of your money goes toward your monthly bills and you don’t have much to put toward a down payment, it can seem unattainable.

There’s good news for active-duty service members, veterans, and eligible surviving spouses, though: The U.S. Department of Veterans Affairs (VA) offers a loan program that’s designed to help with the purchase of a home. Talk to one of our Denver VA mortgage brokers today!

VA loans require no down payment, which can give veterans and their families a bit of assistance when they need to purchase a home. In addition, VA loans can be easier to qualify for and deliver extra benefits — more favorable financing options or lower monthly payments, for example — than buyers might get through a conventional loan.

While these loans are still approved and issued through lenders, the VA insures the loans. If a homeowner defaults, the VA will pay up to a certain portion of the loan, reducing the risk for lenders.

With the help of Denver VA mortgage brokers, like Hunter Lending, you can find out if you qualify for Denver VA home loans.

In order to be eligible to participate in our Denver VA home loans program, you must be an active-duty service member, a veteran, or an eligible surviving spouse. This program extends across all military branches, as well as the Reserve and the National Guard.

Eligibility will depend on factors like:

• Length of service commitment
• Duty status
• Character of service
• and more

The main difference between conventional and VA loans is that a VA loan is government-backed. Although these loans are issued by private lenders, like a bank or a VA mortgage broker, the VA guarantees a portion of the loan, which means that you’ll be able to enjoy benefits like zero down payment and potentially lower monthly payments or other advantageous terms.

It’s important to understand that a VA loan benefit is not a one-and-done deal. As long as you are eligible, you can take out an unlimited number of VA loans (although you can only have one active at a time) for an unlimited number of years.

One of the best things about VA home loans is that they’re not a one-time deal. You can get another VA loan when you divest yourself of the one that you currently hold, and there are a couple of ways to do it.

First, you could sell your current home (paying off the VA loan attached to it) and purchase a new property. Alternatively, you could simply complete payments on your current mortgage, which would free you up to purchase a new property with a new VA loan.

Finally, you could sell your current house to a qualified veteran buyer who is eligible to assume the existing VA loan on the property (and is willing to do so).