VA

A VA loan is guaranteed by the U.S. Department of Veterans Affairs and is available only to borrowers who meet VA service and entitlement requirements. The guaranty is what allows the program to offer terms that are generally not available elsewhere, including the possibility of financing with no required down payment and no monthly mortgage insurance.

• Veterans and active-duty service members who meet VA service requirements.
• National Guard and Reserve members who meet applicable service requirements.
• Certain surviving spouses, as determined by the VA.
• Eligible borrowers who have used the benefit before and may have remaining entitlement.

• Financing with no required down payment may be available for eligible borrowers.
• No monthly mortgage insurance is required under the program.
• It can preserve cash that would otherwise go toward a down payment.

• A VA funding fee may apply, though certain borrowers may be exempt.
• The property must meet VA requirements, and occupancy rules apply.
• Eligibility is determined by the VA, not by the lender.

It is an honor to provide this service. In my opinion, the VA loan is one of the greatest loan options out there, and helping someone who served use this benefit is work I do not take lightly. Sometimes the strongest use of VA eligibility is buying with no down payment; sometimes it is keeping the entitlement available for the next property. That is a conversation worth having before an offer is written.

Eligibility is determined by the VA. Funding fees and program guidelines apply and are subject to change.