When you’re thinking about buying a home in Irvine or the surrounding communities – whether you’re looking at airport area homes for sale, Central Park West homes for sale or Turtle Rock homes for sale – you could be eligible for a VA loan.

What is a VA Loan?

A VA loan is a loan that’s backed by the U.S. government’s Veterans Administration. They don’t make the loan, but they do guarantee a portion of it. That makes it easier for lenders to give borrowers more favorable terms.

Who’s Eligible for a VA Loan?

Only people who have served honorably in the U.S. Armed Forces and their dependents are eligible for VA loans.

Benefits of VA Loans

  • No down payment (provided that the sales price doesn’t exceed the home’s appraised value)
  • No private mortgage insurance premium requirements (you usually have to pay PMI if you’re not giving the lender 20 percent of the home’s purchase price as a down payment)
  • The VA limits how much you can be charged for closing costs
  • Sellers can pay your closing costs
  • The lender can’t charge you an early repayment penalty

Are You Buying a Home in Irvine?

If you’re thinking about buying a home in Irvine or any of the surrounding communities, we can help you find one that’s just right for your needs (and your budget).

Call us at 949-385-1684 or get in touch with us online to let us know what you’re looking for.

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