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A VA loan can be obtained without having excellent credit or being debt-free.

VA Loan 2022

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You must serve for at least 90 days on active duty and for at least 6 years in the Reserves or National Guard to qualify.

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By refinancing, you can get a better rate, access the equity in your house, or even convert your conventional loan to a VA program.

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You must be an active-duty service member, a veteran with an honorable discharge to be eligible for a VA refinancing.

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Private lenders, including banks and mortgage firms, offer VA home loans.

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VA backs up a portion of the loan, allowing the lender to offer you better terms.

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There is no requirement for a down payment or Private Mortgage Insurance (PMI) with VA, and its interest rates are competitively cheap.

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You can utilize the guaranty for the VA home loan several times throughout your lifetime.

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Through a VA loan, you can have less equity in your home.

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It cannot be used for vacation or rental properties; the funding fee is a concern.

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