VA Loans
The VA does not require a down payment and is flexible when it comes to credit history.
Some of the benefits of a VA loan:
- Flexible underwriting and lower credit requirements
- Fewer fees and lower closing costs in general
- No down payment required
- No mortgage insurance
- Can be used to purchase or refinance an existing loan
Am I Eligible For A VA Loan?
Unlike a conventional mortgage, not everyone is eligible to apply for a VA loan. These loans are available to veterans, active-duty service members, and current and former National Guard and reserve members. Surviving spouses are also eligible for a VA loan.
The following individuals are eligible for a VA loan:
- Veterans
- Active duty service members
- Current or former National Guard or Reserve members
- Discharged members of the National Guard
- Surviving spouses of service members