A VA Loan (Veterans Administration) offers qualified Veterans in all 50 U.S. states a federally guaranteed home loan which can require little to no down payment and the following applies:

  • Served in the US Army, Air Force, Coast Guard, Marines, Navy or National Guard.
  • Available to U.S. Military personnel who have served 181 days during peacetime, 90 days during war, or honorably discharged – full details about eligibility can be found here
  • Available to a spouse of a serviceman either killed or missing in action.
  • Services available to Veterans in danger of defaulting on their loans
  • Served after September 16, 1940.
  • 100% financing with no down payment required (providing the loan amount is under the county limit)
  • Eligibility for VA Loans can be used multiple times
  • Can be combined with down payment assistance programs to reduce down payment and/or closing costs
  • Gift funds permitted
  • Allows the seller to pay concessions towards closing costs and other attributes of the loan as well as value added items
  • Available for single-family homes, condos, PUDs, & manufactured homes
  • Available for both purchases and refinances
  • Maximum loan amount varies by county, so call for full current details
  • VA eligibility can be used multiple times
  • No upfront of monthly mortgage insurance or PMI
  • VA funding fee is required
  • Veterans Administration website