VA Loans for Military and Veterans

A VA mortgage loan is backed by the U.S. Department of Veterans Affairs (VA). These loans are designed to help eligible veterans and active duty service members purchase a home.

VA Loan Benefits

• No down payment requirement: VA mortgage loans do not require a down payment, which makes them an attractive option for many borrowers who may not have the funds available for a large down payment.

• Competitive interest rates: VA mortgage loans typically have lower interest rates than other types of mortgage loans, which can save borrowers money over the life of the loan.

• No private mortgage insurance (PMI): Because VA mortgage loans are backed by the government, borrowers do not have to pay for private mortgage insurance (PMI), which can save hundreds of dollars per month.

• Flexible credit requirements: VA mortgage loans have more flexible credit requirements than other types of mortgage loans, which can make it easier for some borrowers to qualify.

• Other benefits: VA mortgage loans also offer additional benefits, such as the ability to refinance your mortgage at a lower interest rate, and the option to take out a cash-out refinance loan to access the equity in your home.