These loans make it easier for veterans of the U.S. armed forces, and sometimes their spouses, to buy homes. VA Home Loans are provided by private lenders, such as banks and mortgage companies. They don’t require a down payment and are guaranteed by the Department of Veteran Affairs, enabling the lender to provide you with more favorable terms. Use our VA loan calculator to see current rates and payment amounts.

No down payment: Qualified VA Loan borrowers can purchase a home without a down payment. Most home loan programs require you to make at least a small down payment to buy a home. The VA loan is a true no-money-down opportunity. No private mortgage insurance (PMI): Typically, lenders require you to pay for mortgage insurance if you make a down payment that’s less than 20 percent. This insurance protects the lender in the event you [...]

The VA doesn’t set a minimum credit score requirement for the VA loan but also does not provide the loan. Most VA lenders do have a credit score minimum in order to be approved for VA financing.  This can vary from lender to lender, typically in the range of 620-660 FICO score.

To be eligible for a VA loan, you or your spouse must meet the basic service requirements set by the Department of Veterans Affairs, have a valid Certificate of Eligibility (COE) and satisfy the lender’s credit and income requirements. You can get detailed eligibility information from the Department of Veterans Affairs website.

Yes, you can. There are 2 basic types of VA loan refinance programs: Interest rate reduction / Streamline refinance: If you have an existing VA-backed home loan and you want to reduce your monthly mortgage payments, this type of refinance lets you replace your current loan with a new one under different terms. Cash-out refinance: A VA cash-out refinance loan is designed to allow veterans with an existing VA or conventional loan to use their [...]