VA (Veterans Administration) Loans

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and issued by a private lender, such as a bank, credit union or mortgage company. A VA loan can make it easier to buy a home because it typically does not require a down payment.

Veteran Homeowners

Benefits of

VA Loans

Up to 100% Financing

A VA loan can make it easier to buy a home because it may require no down payment.

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Low Closing Costs

Competitively low interest rates & low closing cost.

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No PMI

Private Mortgage Insurance (PMI) is not needed.

What is a VA Loan?

VA home loans, supported by the U.S. Department of Veterans Affairs, assist servicemembers, veterans, and eligible surviving spouses in becoming homeowners. These loans are generally provided by private lenders.

Is a VA Loan different from a Conventional Loan?

Beyond the eligibility criteria, the primary distinction between a VA loan and a conventional loan lies in the down payment. Conventional loans typically require a minimum down payment, whereas VA loans often do not. Additionally, VA loans do not necessitate private mortgage insurance (PMI). The credit requirements for VA loans tend to be more lenient compared to those for conventional loans.

VA Loans have many benefits such as being able to finance up to 100% (*Note: Lenders may require down payments for some borrowers using the VA home loan guaranty, but VA does not require a downpayment), competitively low interest rates, and limited closing costs.

Furthermore, the VA home loan is a lifetime benefit: you can use the guaranty multiple times.
For more detailed information on VA (Veterans Administration) Loans, visit https://www.benefits.va.gov/homeloans/

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All loans are subject to credit approval. This information is intended to furnish general information. It does not, and is not intended, to constitute legal, tax, or real property advice. This information may differ according to applicable laws and regulations. The interest on the portion of the credit extension that is greater than the Fair Market Value (FMV) of the dwelling is not tax deductible for federal income tax purposes. Consult a tax adviser for further information regarding the deductibility of interest and charges. VA loans are subject to specific program eligibility requirements.