August 12, 2016

Should you make a downpayment on a VA loan?

Marcie Geffner - Bankrate.com

Many VA borrowers know the VA home loan doesn't require a down payment.

Indeed, the U.S. Department of Veterans Affairs, which guarantees this type of mortgage, is practically famous for its zero-down option, which opens the doors of homeownership to veterans, active-duty service members, surviving spouses and other VA-eligible buyers.

Though a down payment isn't required, borrowers can still make one. Should they? Or is the no-money-down strategy so attractive that a down payment never makes sense?

Read more:
http://www.bankrate.com/finance/mortgages/va-loan-down-payment-pros-cons-1.aspx