What is a VA Home Loan?
Administered by the Department of Veterans Affairs, these special loans make housing affordable for U.S. veterans. To qualify you must be a veteran, reservist, on active duty, or a surviving spouse of a veteran with 100% entitlement. A VA home loan is simply a fixed-rate mortgage with a very competitive interest rate. Qualified buyers can also use a VA home loan to purchase a home with no money down, no cash reserves, no application fee and reduced closing costs. Some states allow a VA home loan for refinancing as well. Many lenders are approved to handle VA loans. Your VA regional office can tell you if you’re qualified.
