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The United States has a long history with the VA Loan.  In 1944, Congress passed the Servicemen’s Readjustment Act, which was also known as the GI bill.  For the past 75 years, this landmark law has helped the brave men and women who served our country with everything from college educations to home loans.  In the 75 years of VA Loans:

  • The Veterans Administration has guaranteed almost 24 million home loans
  • This has let almost 82% of all VA Loans be set with no down payment
  • The VA has granted millions to help disabled Veterans to help them purchase, enhance, or build a home that will help meet their needs and live their lives in comfort and dignity. Last year alone the VA released 2,000 grants at $104 million dollars.

The VA Loan is the best possible loan for veterans, active service members, and their families.  The VA Loan has multiple benefits that other loans do not provide.  These benefits include:

  1. No down payment – There is no down payment requirement with a VA Loan.  You can move into your new house with no money down, or take out a 100% refinance loan from the home.  There are no equity requirements on this loan.
  2. No Private Mortgage Insurance – Private Mortgage Insurance, or PMI, is additional insurance added to your loan in order to mitigate the lender’s risk on a loan with less than 20% equity.  This lets the borrower get a loan with a smaller down payment, but adds extra money to your loan every month that doesn’t go towards paying off your loan.  The VA Loan program doesn’t have this stipulation, unlike other loan programs with smaller down payment requirements.
  3. Lower credit score requirements – VA Loans have less of a barrier to entry on your credit score as well.  Veterans, active service members, and their families don’t have to have perfect credit to get a VA Loan and all of the benefits that come with it.
  4. No cost appraisals – This one is a Hero.Loan exclusive.  We pay for every appraisal on VA Loans as a thank you to your service.
  5. 14 day closings – OK, this is another Hero.Loan exclusive.  Since we are delegated at the highest level for VA Loans, we make our own credit decisions.  This lets us close your VA Loan in as little as 14 days, and lets you use the benefits you’ve worked so hard for without missing out on the home of your dreams.

The VA Loan program has been a huge success for veterans, active service members, and their families.  With millions of borrowers able to buy homes thanks to the program, it’s one of the best benefits of a military career.

If you are a veteran, active servicemember or their family, call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

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The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561