VA loans are a government loan option made available to veterans of the armed services, active-duty personnel, reservists, and their spouses. VA mortgages offer the option of no down payment. VA loans are made through us, but backed by the Department of Veterans Affairs, if guidelines for eligibility are met. Because the VA backs the loans, mortgage insurance is not required.
Choose a VA loan if you:
Are a qualified veteran, in-service military personnel or immediate family member. Spouses of military members who died while on active duty or due to a disability of a service-connected event may also qualify. Potential borrowers will need to obtain a certificate of eligibility, but this is not necessary to begin the mortgage process. Your mortgage loan officer can help you with securing this documentation during the pre-qualifying process.