SmartMoney Monday: VA Loans - Hawaii News Now - KGMB and KHNL

SmartMoney Monday: VA Loans

(Image: Hawaii News Now) (Image: Hawaii News Now)
HONOLULU (HawaiiNewsNow) -

In 1944, the U.S. government created a military loan guarantee program to help returning WWII service members purchase homes. This is now known as the VA Loan. A VA Loan is a mortgage loan that is guaranteed by the U.S. Dept. of Veterans Affairs. It's designed to assist our American veterans in buying or refinancing a home by offering long-term financing options, and with Hawaii's high concentration of military personnel, there are many individuals who can take advantage of it.  But, do all veterans qualify? And what are some of the benefits of this type of loan, as opposed to traditional mortgage options?

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