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

Recommended loan requirements

  • Eligibility based on service duration and duty status.
  • No down payment required in most cases.
  • No minimum credit score set by VA, but lenders typically require 620 or higher.
  • Sufficient income and a suitable debt-to-income ratio.
  • Veterans, active-duty service members, and certain members of the National Guard and Reserves are eligible.

  • 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.

  • No, VA loans do not require PMI, which is a significant benefit.

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