It’s certainly worth looking into if you are:
- A Veteran
- Active-duty personnel
- Reservist/National Guard member
- An eligible surviving spouse
What makes a VA home loan particularly appealing for many eligible veterans (and their families, when applicable) is that a down payment is not required and they can finance more than 80% of a home’s value or purchase price because mortgage insurance is not required.
There are some drawbacks too, though, and we’ll guide you through all the questions you’ll want to ask before applying for a VA mortgage. If you’ve already done your homework and know that a VA home loan is right for you get VA mortgage quotes from competing VA home loan lenders.
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What is a VA loan?
A VA loan is a mortgage loan offered to qualifying military personnel, servicemembers, veterans, and eligible surviving spouses by private lenders, and guaranteed by the U.S. Department of Veteran Affairs, in an effort to help qualifying individuals receive favorable terms on a home loan and become homeowners.