VA Loans

VA loans offer significant advantages to eligible Veterans, active service members and select military spouses who are looking to purchase a home. If you’re eligible, a VA loan can provide an excellent path to homeownership, with unique benefits tailored to the needs of our military community.

Understanding VA Loans

The VA loan program was established by the U.S. Department of Veterans Affairs to help military families buy homes. VA loans come with several benefits, including no down payment requirement, competitive interest rates and no private mortgage insurance (PMI). VA loans can be used to purchase a new home, refinance an existing home or renovate an existing property.

Eligibility for VA Loans

Eligibility for VA loans is based on your military service. Those who may qualify include:

• Active duty military personnel
• Veterans
• National Guard members and Reservists
• Some surviving spouses of service members

You’ll need to obtain a Certificate of Eligibility (COE) to prove to lenders that you’re eligible for a VA loan.

Advantages of VA Loans

VA Loans provide numerous benefits to eligible borrowers:

• No Down Payment: One of the most significant advantages of a VA loan is the potential for zero down payment, making homeownership more accessible for military families.
• No PMI: VA loans do not require PMI, reducing your monthly mortgage costs.
• Competitive Interest Rates: The VA guarantees a portion of the loan, which often results in more favorable interest rates compared to conventional loans.
• Limit on Closing Costs: The VA also limits the amount borrowers can be charged in closing costs, saving you money at closing.