Panama City Beach Properties for Sale

Everything You Need to Know About VA Loans

Posted on by RE/MAX Southern

Memorial Day on the Gulf CoastIn honor of Veteran’s Day, our RE/MAX Southern agents (with the help of the national RE/MAX blog) have compiled a list of things you need to know about applying for various Housing Programs and VA Loans in Destin. The U.S. Department of Veteran’s Affairs provides several housing benefits to service members and their families. If you or someone you know has a military affiliation, it might be a good idea to explore some of the available resources. 

  • Current service members, veterans and eligible surviving spouses can all take advantage of of VA home loan guaranty. 
  • Advantages can often include no down payment, no required mortgage insurance and a limit on the amount vets can be charged for closing costs. 
  • A VA loan can only be used for primary residences. (Sorry to all those looking for a second home or vacation rental in Destin!)
  • VA loans are provided by private bank lenders, like banks and mortgage companies. The VA guarantees a portion of the loan which allows those private lenders to offer better terms.
  • Vets can use their VA entitlement more than once…

Are you interested in learning more about the resources available through the U.S. Department of Veteran’s Affairs? Visit their website at www.benefits.va.go/homeloans/. 

On behalf of everyone at RE/MAX Southern, we thank you for your constant courage and daily sacrifice.

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