What is a VA Home Loan?
For U.S. servicemembers and veterans, it can sometimes be difficult to establish the level of credit necessary to qualify for a home loan. To make homeownership more attainable for servicemembers and veterans, the Department of Veteran Affairs established the VA Home Loan, which guarantees a portion of the loan and enables us to provide you with more favorable loan terms. This guarantee allows lenders like PennyMac to offer home loans to servicemembers and veterans who may otherwise not be able to qualify for a conventional loan. To date, the VA Home Loan program has helped over 20 million servicemembers and veterans buy a home, since WWII.
Eligible servicemembers and veterans can take advantage of some of the many VA Home Loans benefits such as:
- No down payment on home purchase loans
- Lower interest rates
- No monthly mortgage insurance premiums help keep your monthly payments low.
How Does PennyMac Support Our Veterans?
PennyMac understands that our people are essential to continuing our growth and leadership in the mortgage finance industry.
That’s why we have worked with Veterans groups such as DAV/RecruitMilitary to help us actively recruit America’s highest quality talent. Allowing them to continue developing their skills and expand their experience in a customer-centric environment that emphasizes high ethical standards, open communication and excellence.