VA

The VA home loan is a zero-down payment loan with no monthly mortgage insurance. The program is insured by the Department of Veterans Affairs. The department does not lend the money directly but determines the qualifications for the loan and what lenders can issue them. Because the VA insures these loans the rates are very competitive.

Like FHA, the VA has more underwriting flexibility than a conventional mortgage which gives accessibility to veterans to qualify and get into homes.

The does charge an upfront one time funding fee that can be rolled into the loan amount so that the only cash to close required to purchase would be to cover the closing costs. In some cases, it is possible to have those covered by the lender or seller. 

Do you qualify for a VA loan? See VA eligibility guidelines or contact me if you need help to determine if you’re eligible!