This is a YouTube video titled "🇺🇸 VA Financing 🇺🇸" containing a conversation between Derek McGowan and another speaker discussing the benefits of VA loans for veterans and military personnel, including lower interest rates, no mortgage insurance, and no down payment requirements. The content was created on June 1, 2022.
Hey guys, It's Derek with McGowan Mortgages. Today I wanted to dive in a little bit further on VA loans. So these are loans for veterans in the military. And I want to hit on the.
Huge highlights of these loans that really make them stand out. So the VA.
Loan, the big one.
The interest rates lower.
We all like that.
Rates are about a.
Half percent lower on a VA loan compared to the same person buying the same house. With conventional.
Financing, there's.
No mortgage insurance.
So oftentimes if you are getting a.
Conditional loan that's been 20% down, va, you can do zero.
Down and still.
Get no mortgage insurance.
And that segues.
Into the final and third huge key point. There's no down.
Payment requirements.
On a VA loan. That's a big one. So that you don't take a hit on your interest rate. You don't add mortgage insurance.
You simply.
Get the benefit of being a veteran and military and you can do zero down payment. Generally, these are very specialty programs. Do zero down and you have to pay an arm and a leg form, not the VA loan.
