For Homebuyers & Homeowners
VA Loan
Tired of saving for a big down payment? A VA Loan lets qualified veterans and service members buy with zero down.
VA Loan Features
No down payment required in most cases.
No monthly mortgage insurance (PMI/MIP) – unlike FHA or conventional loans with <20% down.
No Upfront Mortgage Insurance Premium (MIP) unlike FHA loans.
Can be used for primary residences only (single-family homes, condos, some multi-unit properties).
Flexible credit guidelines compared to other loan types.
Why Choose a VA Loan?
- Zero down payment means you can buy sooner without waiting years to save.
- No PMI can save borrowers hundreds per month compared to FHA/conventional.
- One-time funding fee replaces mortgage insurance (can be financed into the loan, waived for disabled veterans).
Frequently Ask Questions
Q: What is a VA Loan?
Answer: A VA Loan is a mortgage backed by the U.S. Department of Veterans Affairs, designed to help eligible veterans, active-duty service members, reservists, and some surviving spouses buy or refinance a home with special benefits like no down payment and no PMI.
Q: Do I need a down payment for a VA Loan?
Answer: No. One of the biggest advantages of VA Loans is that most borrowers can purchase a home with zero down payment, making it easier to become a homeowner sooner.
Q: Who is eligible for a VA Loan?
Answer: Eligibility is based on military service. Generally, you qualify if you’ve served 90 days during wartime, 181 days during peacetime, or 6 years in the National Guard or Reserves. Some surviving spouses of veterans may also qualify. A Certificate of Eligibility (COE) is required.
Q: Do VA Loans require mortgage insurance?
Answer: No. Unlike FHA or conventional loans with less than 20% down, VA Loans do not require monthly private mortgage insurance (PMI). This can save borrowers hundreds of dollars every month.
Q: Can I use a VA Loan more than once?
Answer:Yes. VA Loan benefits can be reused as long as you still meet eligibility requirements. You can also have your entitlement restored after selling your home or paying off the previous VA Loan.