Veterans Administration Loan Program

The VA offers a program to qualified borrowers who are Veterans. It is called the VA Guaranteed Home Loan Program. The program’s main purpose is to help Veterans finance the purchase of homes with favorable loan terms and at an interest rate which is lower than that charged on other types of mortgage loans.

Benefits of the VA Loan Program are:

* 100% Loan Financing, with VA funding fee included in loan amount

* No prepayment penalties

* Servicing function protects Veterans against default/liquidation

VA loans are guaranteed and issued by private lenders such as Bailey & Wood, with the guaranty made by the VA. A Mortgage Lender that can offer VA Underwriting is typically more successful in completing the VA Loan Program procedures more efficiently and with greater rates of success than other brokers or lenders, and Bailey & Wood has one of the few VA licensed Underwriters on their in-house staff.