Who is “The VA?”
The abbreviation VA stands for “Veterans Affairs.” The United States VA department began insuring home loans for our military veterans in 1944 as part of a plan to combat the devastating aftermath associated with war. The VA department does not fund, approve or close VA Home Loans themselves. They do, however, set forth the guidelines that Arizona VA mortgage lenders must follow when originating VA mortgages.
What is VA’s Roll?
VA insures each and every loan made to a veteran which makes it possible for Phoenix area mortgage lenders to offer veterans such an amazing home financing option. VA does NOT underwriter and fund VA loans directly. Local VA mortgage lenders are responsible for underwriting, funding and closing VA loans for eligible VA borrowers.
Who has VA helped?
To date, the VA has insured over 18 million home loans made to veterans. The loan terms extended to our military veterans provide them with an outstanding option when purchasing a new home or refinancing a current home loan. Arizona Veterans can also have more than one VA Mortgage at a time.