VA loans are one of the most valuable benefits available to those who have served. They are designed to make homeownership more accessible and affordable for veterans and their families.
Eligible borrowers can purchase a home with zero down, making it possible to buy without years of saving for a large down payment.
Unlike conventional and FHA loans, VA loans do not require monthly mortgage insurance, which keeps your payment lower.
Most borrowers pay a one time funding fee instead of monthly mortgage insurance. The amount varies based on your service history, down payment, and whether it is your first time using the benefit. Certain veterans are exempt.
VA loans tend to be more forgiving than conventional loans when it comes to credit history, making them accessible to a wider range of borrowers.
For eligible borrowers, a VA loan is one of the best mortgage options available. Here is what makes it stand out and what to keep in mind.
If you are eligible, a VA loan is almost always worth exploring first. The combination of no down payment and no mortgage insurance is difficult to match with any other loan program.
Service members currently on active duty who are ready to purchase a primary residence near their duty station.
Veterans who want to maximize their hard earned benefit and purchase a home with zero down and no mortgage insurance.
Eligible surviving spouses of Veterans who want to take advantage of VA loan benefits to purchase or refinance a home.
Straight answers to the questions we hear most often.
A VA loan is a mortgage benefit available to eligible veterans, active duty service members, and surviving spouses. It is backed by the Department of Veterans Affairs and offers significant advantages over conventional financing.
In most cases no. Eligible borrowers can purchase a home with no down payment, which is one of the most valuable benefits the VA loan program offers.
No. VA loans do not require private mortgage insurance regardless of your down payment. There is a one time funding fee in most cases, which can be rolled into the loan.
Eligibility is based on your service history. Generally this includes veterans, active duty members, National Guard and Reserve members who meet service requirements, and eligible surviving spouses.
Yes. VA loan benefits can be used multiple times as long as you meet eligibility requirements and have remaining entitlement available.
