For the thousands of veterans living in Pittsburgh, VA home loans can help veterans, qualified military personnel and their families purchase or refinance their home. As government-backed loans, Veterans Affairs loans are a popular choice among veteran borrowers because the program offers lenient eligibility requirements and big financial savings. Available as either fixed-rate or adjustable rate, VA loans have saved Pittsburgh veterans and active military thousands of dollars each year.
Advantages of VA Loans for Qualified Individuals
- Fewer Qualifying Restrictions Unlike conventional home loans that have many borrower restrictions, VA loans have lower eligibility requirements including no minimum credit score and flexible income and debt guidelines. This means that local Pittsburgh veterans or active military personnel who might not qualify for a conventional home loan could secure a VA loan.
- Lower Monthly Payments Typically, borrowers who do not put 20% or more toward the down payment of their home are required to pay a PMI or private mortgage insurance. However, VA loans do not require this fee, saving veteran homeowners money every month on their mortgage payments.
- No Money Down A major benefit of VA loans is that they do not require veterans to put any money down. This allows qualified individuals to finance up to 100% of the value of their homes.
- Easy Refinancing For Pittsburgh veterans and active military personnel looking to refinance their home at a lower rate, the VA Streamline Loan Program has few fees and no appraisal or income requirements. With its flexible guidelines, a VA Loan offers a great mortgage refinancing option for Pittsburgh residents that are currently serving or have served.
VA Loans with Golden Oak Lending Pittsburgh
If you are active military personnel or a veteran looking to purchase or refinance a home in the Pittsburgh area, a VA loan could be a great option for you to consider. With lower mortgage payments, better financing terms, and more flexibility, eligible individuals can buy and keep their dream home with fewer costs. At Golden Oak Lending Pittsburgh, our loan experts will guide you through your mortgage process and ensure that you have a smooth transition from underwriting to closing. If you are a veteran or an active military member in Pittsburgh, contact Golden Oak Lending Pittsburgh today to find out how much this exclusive benefit could save you – you have earned this VA loan!