VA Loans
What is it?
A VA home loan is a mortgage secured by the U.S. Department of Veterans Affairs (“VA”).
Program Details:
With the VA Loan, you can get 100% financing and no down payment. One of the benefits of the VA Loan is that interest rates are usually lower. Also, borrowers only have to pay certain closing costs.
Who is this for?
Active-Duty
You will need a statement of service signed by an active-duty service member. There is certain information that you will have to include in your statement of service.
U.S. Military Veterans
With the VA Loan, you will be ensured to receive an equal opportunity to get approved for a home loan, without regard to their race, color, religion, sex, handicap, familial status, or national origin.
Surviving Spouses
If you are a surviving spouse of a military service person who died while on duty or as a result of military service, you are eligible for a VA Loan.
Reservist / Guard
If you’re a discharged member of the Selected Reserve, you must have proof of your annual Retirement Points Statement. You will also need proof of honorable service and discharge.