A VA Home loan is for veterans, active-duty service members and eligible military spouses.


Private lenders provide it and the U.S. Department of Veterans Affairs (VA) supports it.

Here are its main features:

Buy a home without putting money down, making it easier for eligible veterans and service members to own a home.

No Down Payment:

With the VA's backing lenders usually don't ask for private mortgage insurance which is typically needed for low down payment conventional loans.

No Private Mortgage Insurance

VA loans often have attractive interest rates, saving borrowers money over time.

Competitive Interest Rates

 VA loans generally have more lenient credit criteria than conventional loans.

Flexible Credit Requirements

The VA restricts veterans' closing costs, reducing initial home-buying expenses.

Limited Closing Costs

In some cases, VA loans can be taken over by another qualified person, making selling the home smoother.

Assumption Option

Paying off a VA loan early doesn't come with extra fees.

No Prepayment Penalty

Veterans can sometimes use their VA home loan benefit for another home purchase.

Benefit Reuse