What Are The Major Types Of VA Loans?
Major Veterans Affairs loan programs described in this video include:
1) Purchase Loans – these help eligible parties buy a home at competitive interest rates with little to no down payment and little or no private mortgage insurance.
2) Cash Out Refinance Loans – which enable taking cash out of home equity to pay off debt, fund school or make home improvements.
3) Interest Rate Reduction Refinance Loans – also called Streamline Refinance Loans – can help veterans obtain lower interest by refinancing existing VA loans
Other programs include:
4) Native American Direct Loans to help eligible Native American veterans finance homes on Federal Trust land.
And
5) Adapted Housing Grants to help veterans with service-connected disabilities buy, build or modify a home suited to their disabilities.
Many states offer additional resources to veterans, too.
Talk to your home lender about your situation.