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VA Home Loans

A Cost-Effective Home Loan Program for Veterans


The Veterans Affairs (VA) developed the VA Loan so that active duty military personnel and veterans would be able to purchase or refinance homes that they may otherwise be unable to finance.


The VA offers 100% home loan financing at low, fixed, and adjustable rates, at no money down. Instead of focusing on credit scores, the VA underwriters are interested in the Veteran’s ability to repay the loan, so the VA charges a “funding fee” to off-set the need for mortgage insurance. The typical funding fee (2.15%) is added to the loan amount and is financed. There is no monthly mortgage insurance. The VA will also waive the funding fee for disabled Veterans.

The VA will let a Veteran to use a VA loan 2 years after the date of a foreclosure as long as there is no major derogatory credit after the foreclosure.

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