VA loans are home mortgages backed by the Department of Veterans Affairs (VA). With a VA loan, eligible service members and veterans can buy a home with little or no down payment, or refinance an existing home to get cash out or a lower monthly payment.
Residential Funding Consultants can offer service members, veterans, and eligible surviving spouses favorable terms on all types of home mortgage products. And if you don’t meet the qualifications for a VA loan, FHA loans offer similar advantages, including lower down payment requirements.
Benefits and Considerations
Conventional ARMs typically feature lower interest rates and APRs during the initial rate period compared to fixed-rate loans, but rates could increase or decrease once the initial rate expires.