VA loans are an exclusive benefit for U.S. military veterans, active-duty service members, certain members of the National Guard and Reserves, and eligible surviving spouses. Guaranteed by the Department of Veterans Affairs, they’re one of the most powerful tools in the mortgage market and often the smartest financial choice for those who qualify.
The standout feature? No down payment required. That means you can finance 100% of the home’s value without private mortgage insurance (PMI), saving you thousands upfront and hundreds per month compared to other loan types. VA loans also have competitive interest rates, often lower than conventional rates, which can save tens of thousands over the life of the loan.
Credit guidelines are more flexible than conventional programs, and debt-to-income ratios can be higher, making qualification easier for many military families. The VA also limits certain closing costs and allows sellers to pay some or all of them further reducing your out-of-pocket expenses.
In addition to purchases, VA loans can be used for refinancing. The VA Interest Rate Reduction Refinance Loan (IRRRL), often called a “streamline”, allows eligible borrowers to refinance quickly and with minimal paperwork, often without an appraisal.
There is typically a one-time VA funding fee, which can be rolled into the loan, but many veterans with service-connected disabilities are exempt from paying it entirely.
If you’ve served our country, this benefit is one you’ve earned. Using it wisely could mean owning your home with no down payment, no PMI, and a rate that beats almost any other option. We can guide you through the eligibility process, secure your Certificate of Eligibility (COE), and handle the entire application from start to finish.
