The VA (short for “US Department of Veterans Affairs”) is the Federal military veteran benefit system. The VA administers benefits and services for Service members, Veterans, their dependents, and survivors. Programs related to home loans are one of their key services, such as VA Loans.
But the name of the loan is misleading – VA Loans are not loans from the VA. The VA is not a bank; they do not provide home loans themselves. But they do guarantee a portion of home loans provided to veterans and other eligible people by banks and mortgage companies. These guarantees enable lenders to provide more favorable terms. They are are commonly called “VA Loans.” They cover buying, building, repairing, retaining and adapting homes for personal occupancy by eligible Veterans and survivors.
At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.
Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Home Selling Snafus: Error On the Deed