VA Financing

A VA loan is a guaranteed mortgage loan supported by the U.S. Department of Veteran Affairs that allows veterans to obtain home mortgages without a down payment. The VA determines the eligibility and insurance for the loan, while a private lender disburses the loan. 

<p>Is a VA loan right for you?</p>

Is a VA loan right for you?

​A VA loan is a guaranteed mortgage loan supported by the U.S. Department of Veteran Affairs that allows veterans to obtain home mortgages without a down payment. The VA determines the eligibility and insurance for the loan, while a private lender disburses the loan. ​

<p>Features</p>

Features

​The VA loan is provided by the U.S. Department of Veterans Affairs to guarantee eligible veterans, or their surviving spouses, long-term mortgage financing for their primary homes. A VA loan also guarantees insurance if the loan defaults. A VA loan offers:

  • No maximum loan amounts
  • No early pay-off penalty
  • No down payment necessary
  • No private mortgage insurance
<p>Important Information</p>

Important Information

​Funding fees can be financed in a VA loan. Only primary residences qualify for this mortgage program, and homeowners must certify their intent to occupy the primary residence within 60 days. A spouse may satisfy occupancy if the Veteran is on active duty or is unable to occupy the residence due to distance employment. Surviving spouses are eligible for a VA loan, provided that they do not remarry. The VA limits the amount charged for closing costs.