Why might a VA loan be better than a conventional loan?
VA loans have many benefits not offered by conventional loans, especially for first-time homebuyers with little or no money for a down payment. Plus, VA home loans do not have private mortgage insurance requirements. Additionally, VA loans usually have lower rates than conventional loans and may have different or lower closing costs. This is because there are certain fees that borrowers cannot be charged. VA home loans may also give you the ability to refinance to a lower rate without having to re-qualify for the loan, a process known as a VA Streamline Refinance, or IRRRL. Getting started on your VA loan is easy; simply contact a VA loan specialist now about your VA Benefits Minnesota!