VA Loans
VA loans are offered to veterans, active military personnel, and their families. These loans are guaranteed by the U.S. Department of Veterans Affairs and offer significant benefits like no down payment, no private mortgage insurance, and competitive interest rates. This section will provide comprehensive information on eligibility, benefits, and the application process for VA loans.
Loan Requirements
- Max seller contribution 4%
- Min down payment: 100% LTV available
- All property types available
- Must be eligible for VA loan
- No monthly mortgage insurance
- Min credit score 500
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Who is eligible for a VA loan?
Veterans, active-duty service members, and certain members of the National Guard and Reserves are eligible.
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Is there a maximum amount I can borrow with a VA loan?
While the VA does not cap the amount you can borrow, the limit is typically dictated by the lender's guidelines and your ability to repay.
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Do VA loans require private mortgage insurance (PMI)?
No, VA loans do not require PMI, which is a significant benefit.
