VA Loans

A loan guaranteed by the Department of Veterans Affairs (VA) for eligible veterans and their spouses.

Eligibility:

VA loans are only available to eligible veterans, active duty service members, and eligible surviving spouses. Borrowers must have a valid Certificate of Eligibility (COE) from the Department of Veterans Affairs to be eligible for a VA loan.

No Down Payment:

VA loans do not require a down payment, which can make them a more affordable option for borrowers who have limited savings or cannot afford a down payment. This can also make VA loans a more accessible option for borrowers who may not qualify for a conventional mortgage.

No Private Mortgage Insurance:

VA loans do not require private mortgage insurance (PMI), which can reduce the overall cost of the loan. PMI is typically required for conventional mortgages with a down payment of less than 20%.

Competitive Interest Rates:

VA loans often have competitive interest rates, which can make the monthly mortgage payments more affordable for borrowers. VA loans may also have lower closing costs than other mortgage options. Borrowers should compare the interest rates and closing costs of VA loans to other mortgage options to determine which option is the best fit for their financial situation.

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