What is VA Loan?
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs, available to eligible veterans, active-duty service members, and surviving spouses, often with no down payment.
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs and issued by approved lenders. It is available to eligible veterans, active-duty service members, National Guard and Reserve members, and some surviving spouses. Borrowers often choose it because it may require no down payment and no monthly mortgage insurance, and it can offer competitive interest rates. Watch for a funding fee, which may be financed or paid at closing, though some borrowers are exempt. The property must meet VA minimum property requirements, and you generally must occupy it as your primary residence. Compare loan terms and fees across lenders.
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