No down payment
Eligible VA borrowers can often finance 100% of the home’s purchase price. That means no traditional down payment is required, although you will still want a clear plan for closing costs, inspections, and reserves.
VA Loan Education
VA loans in a nutshell
VA loans offer some of the strongest home financing benefits available to eligible veterans, active-duty service members, and qualifying surviving spouses. Many borrowers do not realize everything they may be entitled to use.
No monthly mortgage insurance
VA loans do not require monthly private mortgage insurance. A VA funding fee may apply, but some eligible borrowers are exempt.
Competitive rates and flexible guidelines
VA loans often offer competitive interest rates and more flexible credit and debt-to-income guidelines than many conventional options. Approval still depends on the full loan, borrower, and property review.
Seller concessions are allowed
VA guidelines allow sellers to help with certain closing costs and concessions, subject to program limits. The contract should be structured carefully so the benefit is useful and compliant.
Your service. Your benefits. Your future.
One of the best mortgage benefits available is also one of the most misunderstood. Thank you for your service. I can help you understand your eligibility, compare the numbers, and use your VA benefit with confidence.
Written by Marta Lillard
25+ years of mortgage experience, explained in plain English.
Mortgage Broker · First Coast Mortgage Funding · NMLS #879436 · Licensed in Florida and Georgia
Questions about your options?