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14 Sep 09 Military Avoids Private Mortgage Insurance with a VA Mortgage Financing

Getting a VA home loan could greatly save veterans money by avoiding PMI. VA mortgage rates are affordable and the biggest attraction for VA mortgages is the fact that you do not need to put any money down unlike conventional loans. With traditional conventional mortgages borrowers are required to pay PMI if they cannot put down at least 3%. With a VA loan, you will not only avoid the down payment but you will also avoid private mortgage insurance also known as PMI.

VA loans are getting more and more popular for Veterans in this struggling economy because Veterans can save money in multiple ways. As stated earlier, by getting a VA loan borrowers can avoid any down payment which will also help them avoid PMI. Read the complete article VA online.