The VA offers housing-related programs to help qualified veterans or their eligible surviving spouses buy, build, repair, retain or adapt a home for personal occupancy.
Renting is not throwing away money as you get a place to live. But, rent never ends. As a homeowner, someday the mortgage payments come to an end, and you will own your home outright.
Effectively, the term “preapproved” indicates that you have done the leg work to get approval for debt financing before finding the house you wish to buy.
The lenders goal is to assess your quality as a borrower and evaluate the risk of you defaulting on mortgage payments before setting the terms of the loan.
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