Veterans Adminstration


VA - (Veterans Affairs) Loan

  • VA guaranteed loans are provided by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In many cases, no down payment is required on a VA Guaranteed Loan and the borrower usually receives a lower interest rate than is ordinarily available with other loan programs. Veterans of the  Armed Services, active duty, reservist or a spouse of a veteran are eligible.
  • No down payment option available.
  • Easier qualifying requirements.
  • Interest rates may be negotiable.
  • Closing costs are comparable and many times lower.
  • No private mortgage insurance is required.
  • Right to prepay loan without penalties.
  • Counseling and assistance is available to veteran borrowers having financial difficulty or facing default on their loan.