VA Loan

A mortgage loan offered to veterans and active military personnel by the U.S. Department of Veterans Affairs (VA). It offers favorable terms and rates, including no down payment options, to help military personnel and veterans afford homeownership.

What Is A VA Loan?

VA loans are mortgage loans specifically designed for military veterans, active service members, and their eligible surviving spouses. They are backed by the Department of Veterans Affairs and offer several benefits to eligible borrowers. They offer up to 100% financing and have some of the most lenient credit score and income requirements. VA loans do not have mortgage insurance requirements, but may have a VA Funding Fee requirement.  If you are a military veteran or active service member with a valid Certificate of Eligibility (COE), a VA loan may be the perfect mortgage option for you.

The Benefits of VA Loans

  • No down payment options
  • Lower interest rates
  • No mortgage insurance
  • Flexible credit and income requirements
  • Closing cost discounts for veterans

Who Should Consider a VA Loan?

  • Veterans or active military personnel
  • Spouses of deceased or disabled veterans
  • Individuals who have served in the National Guard or reserves

Eligibility Guide

  • Be an active duty military member, veteran, or spouse of a deceased military member
  • Meet income and credit score requirements
  • Obtain a Certificate of Eligibility from the VA
  • Occupy the property as primary residence
  • Meet debt-to-income ratio guidelines

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