VA – Veterans Affairs

VA loans are mortgages guaranteed by the U.S. Department of Veterans Affairs that provide military Veterans, active duty personnel, and eligible living spouses a home loan that is federally guaranteed. This highly successful program has aided millions of Veterans and their families secure a home.

Advantages

• No down payment required 
• Lower interest rates 
• No mortgage insurance is required
• Limited origination fees and closing costs
• Limited appraisal fees

Key Points

• A Certificate of Eligibility (COE) must be provided by the VA
• Closing costs may be paid by the lender and seller
• One-time funding fee must be paid by the borrower based on the loan amount and time served by the applicant.