September 28, 2023

Jenny Adib, a San Diego realtor and a proud veteran of the United States Navy, brings her eight years of service experience and real estate expertise to light in a recent episode of the Whissel Way Podcast. Her discussion focuses on the VA loan, a unique and beneficial tool for veterans and active duty personnel in the real estate market, particularly in San Diego.

No Down Payment Required

The first and perhaps most significant advantage of a VA loan, as Jenny points out, is the absence of a down payment requirement. This feature is exclusive to VA loans, setting them apart from other mortgage options. For veterans and active duty members, this translates into a more accessible path to homeownership, removing a major financial barrier that often hinders the ability to purchase a property.

No Private Mortgage Insurance

Another financial relief that comes with VA loans is the exemption from private mortgage insurance (PMI). Conventional loans usually require PMI when the down payment is below a certain threshold, adding to the monthly payment burden. VA loans, backed by the government, eliminate this cost, resulting in lower monthly payments and significant savings over the life of the loan.

Competitive Mortgage Rates

The third compelling reason to choose a VA loan, according to Jenny, is the competitive mortgage rates these loans offer. VA loans often have more favorable rates compared to conventional loans, thanks to government backing. This benefit can lead to substantial long-term savings and lower overall loan costs.