BENEFITS

VA Loan Benefits and Advantages: Products for our Heroes

NewDay USA wants our servicemembers, veterans, eligible National Guard members and surviving spouses to become homeowners and achieve the American dream. With a VA home loan, this is possible and within your reach.

The VA has guaranteed more than 20 million loans since 1944.

Read about the benefits you can take advantage of with a VA-guaranteed loan:

Zero Down Payment

It can be a challenge at times for veterans, servicemembers, eligible National Guard members and surviving spouses to save the money required for a down payment on a home loan. With a NewDay $0 Down VA Home Loan, qualified borrowers can finance 100 percent of the home’s value and there is no down payment requirement.

Your military service has earned you the right to apply for a VA home purchase loan that requires zero down payment.

Zero Private Mortgage Insurance

Many conventional lenders require borrowers to pay private mortgage insurance (PMI). With a VA loan with NewDay USA, however, there is zero PMI requirement, which can save you hundreds of dollars every year.

Competitive Interest Rates

Call us at 800-405-4187 to learn about the competitive interest rate we can offer you. A dedicated loan officer will guide you.

Benefits are Reusable

The VA Home Loan program benefit is not just a one-time benefit—it is reusable. However, in most cases, eligible veterans can only have one VA loan at a time.

VA Loans are Assumable

A lesser known advantage of VA loans is that, unlike most conventional loans, they are assumable. A mortgage loan that is assumable enables a new qualified home buyer to assume the seller’s loan and loan terms upon the purchase of the home.

One benefit this may offer you comes in the event that the loan rate has risen since the seller originally purchased the home. An assumable loan may potentially yield a lower interest rate than a brand new mortgage would.

No Prepayment Penalty

If you choose to pay off your VA loan early, you will not have to worry about facing prepayment penalties.

The combination of having zero down payment requirements, zero private mortgage insurance requirements and competitive interest rates can save you a significant amount of money while you realize the American dream of homeownership.