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VA Home Loan

VA Loans play an important role in putting our brave military-serving citizens and their families into a home of their own.

What is a VA Home Loan?

A VA loan is issued by a private lender and insured by the Department of Veterans Affairs. It’s a valuable benefit — offering a mortgage with a lower-than-most interest rate that usually requires no down payment — for qualified U.S. veterans, active-duty military personnel and certain surviving spouses.

Although the VA has no minimum credit score requirement, lenders often require scores of at least 620. A few lenders will approve loans with credit scores as low as 580 in some cases. And a borrower must be able to afford a home. The VA takes a real-life view of affordability by estimating the ability to pay the home loan after accounting for other monthly expenses.

   No down payment required

   Overall loan cost is often lower than other loan types

   No mortgage insurance required

   You don't have to be a first-time home buyer

   VA Home Loans are assumable