The Benefits of a VA Home Loan

Since 1944, the VA loan program has continuously assisted current and former service members in becoming homeowners.

J.G. Wentworth is an approved VA loan lender. Our loan specialists will work with you to determine your VA loan eligibility and to provide a wealth of knowledge regarding the advantages of VA loans. We are proud to offer VA loans with low rates and no points or hidden fees to those that have served our country. 

Advantages of a VA Loan

There is a multitude of unique benefits associated with VA loans that a conventional loan simply can’t match. If you are a current or former member of the military looking to buy or refinance a home, a VA loan is one option available to you that is certainly worth looking into. Here are some of the advantages military members, veterans, and their families have access to:

  • No Down Payment- Conventional loans typically require at least 5 percent for a down payment. With a VA loan, you won’t need to spend years saving up the cash needed for a down payment.
  • No Private Mortgage Insurance (PMI)- Unless you are making a down payment of 20 percent or more, borrowers with conventional loans will be required to purchase PMI. This additional cost is not included in a VA loan.
  • Low Interest Rates- VA loans are known to have lower interest rates on average. This is because the loans are guaranteed by the federal government. 
  • Relaxed Credit Requirements- The VA loan program does not require borrowers to have perfect credit scores to receive their benefits.
  • Lifetime Benefit- Whether you are an active military member or a veteran, the VA loan program will be available throughout your lifetime when you meet the eligibility requirements.
  • Refinancing up to 100% of Home Value- When you choose to refinance with a VA loan, you can refinance for the full value of your home.
  • No Pre-Payment Penalty- You have the chance to pay off your mortgage in full, ahead of schedule, without any financial penalties.
  • Foreclosure Avoidance- In the event a borrower is about to enter into foreclosure, staff members within the VA will advocate on behalf of the borrower and find an alternative route to take.

The aforementioned VA loan benefits can pertain to first-time buyers or homeowners looking to refinance. No matter the situation, J.G. Wentworth provides you with award-winning customer service so you can begin taking advantage of VA loan benefits in no time.

Additional VA Loan Aspects 

A small portion of your monthly VA loan payment will go toward the VA funding fee. The value of the VA funding fee is that it goes directly to the Department of Veterans Affairs, to ensure future generations of military members have the same opportunity to take advantage of the VA loan program. 

You can also refinance your home through the VA program as long as you qualify. The refinancing benefits are available to you even if you did not obtain a VA loan when you originally bought your home. There are two options offered for VA loan refinancing:

  • VA Streamline (IRRRL) Refinance - With the Interest Rate Reduction Refinance Loan, homeowners can take advantage of low interest rates and potentially lower their monthly payments.
  • Cash-Out Refinance - This option replaces your existing mortgage and allows you to take the equity currently in your home and use it as cash.

VA loans are a unique benefit for qualified veterans, military members, and their families. It is with great pride that J.G. Wentworth is an approved lender of VA loans. We are a company built by veterans, and we honor those who have served through our sponsorship of Homes for Our Troops. 

If you are interested in taking advantage of the benefits associated with a VA loan, contact our VA loan specialists to get a rate quote today

Homes for Our Troops 

J.G. Wentworth® is a proud sponsor of Homes for Our Troops. Building homes, Rebuilding lives.

Get Cash

How do I get started?

J.G. Wentworth offers a wide variety of loan programs with low rates and no points and no hidden fees.  To get started, you can call us or let us contact you by completing a short form.  You can also get a rate quote in seconds with no personal information required. We look forward to working with you.