The VA Loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA). This program helps returning service members purchase homes without needing a down payment or excellent credit. This historic benefit program has guaranteed more than 22 million VA loans to help veterans, active duty military members and their families purchase homes or refinance their mortgages.
Features of the VA Loans for veterans and active duty military members:
♦ 0% down for qualified buyers
♦ No PMI
♦ Competitive interest rates
♦ Easier to qualify