VA loan
Military homebuyer financing
A VA loan is a mortgage guaranteed by the U.S.
Department of Veterans Affairs, available to military service members, veterans, and eligible surviving spouses.
These loans typically require no down payment and carry favorable terms: They bought their first house with a VA loan.
The VA doesn't lend directly but guarantees a portion of the loan, reducing risk for lenders.
- eligibilityState of meeting criteria
- down paymentInitial sum toward purchase
- interest rateCost of borrowing money
- property inspectionExamination of real estate
- primary residenceMain place of habitation
certificate of eligibility · active duty · veteran status · GI Bill · National Guard · honorable discharge · closing costs · military discharge · title insurance · refinancing · escrow process · fixed-rate mortgage · debt-to-income ratio · real estate agent · entitlement · deed transfer · mortgage lender · Medicare
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage payment, mortgage insurance
- military benefitsmilitary pay, veteran benefits, base pay, health benefits, disability benefits
- loan guaranteessurety bond, bank guarantee, payment guarantee, personal guarantee
- mortgage reliefforbearance, mortgage assistance, mortgage relief, foreclosure prevention, payment plan
- debtdebt, creditor, owe, debtor, lender
- real estatehouse, home, apartment, property, sale