What are VA loans?
VA loans are a type of mortgage available to assist active service members, veterans, and surviving spouses in buying, building, and retaining a home. The loan is available through private lenders (banks, mortgage companies, credit unions) and not the U.S. government. The United States Department of Veterans Affairs (VA) however, assures the lending agency it will be repaid if the borrower can no longer make payments.
VA loan quick view
- 0% down payment
- No prepayment penalty
- No reserve requirements at closing
- Out-of-pocket expenses may be gifted
- Available for residential homes, not vacation homes or investment properties
- Properties must meet VA guidelines and be inspected by VA-approved appraisers
- Subject to loan limit set by VA
- Simple & secure online application
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If you are interested in this item and have some questions, feel free send an inquiry.
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