VA Loans

VA Loans

The VA Loan is a home-mortgage option available to United States Veterans, Service Members and not remarried spouses. VA Loans are issued by approved lenders and guaranteed by the U.S. Department of Veterans Affairs (VA). The program was set up in 1944 by the United States government to help returning service members purchase homes without the need for excellent credit or a down payment.

This historic benefit program has guaranteed more than 22 million VA loans to assist veterans, active duty military members as well as their families purchase homes or refinance their mortgages.

Nowadays, the VA Home Loan mortgage program is more relevant than ever to service members, both active and retired, and it is a great way for those who qualify to purchase a home with no down payment and a better alternative to USDA 100% financing since major urban areas qualify.

In recent years, because of the housing market collapse, most lenders have tightened their lending guidelines, making the VA Loan a much more plausible alternative for military home buyers, many of whom might find it difficult to purchase a home with today’s more strict standards. many also find the fact that they do not need a down payment highly attractive.0

Like all home loans, VA Mortgages do require a lot of documentation from the buyer, so no matter what, the paperwork is unavoidable.

You can read more about VA Loans here.

VA Loans

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VA Loan vs. FHA and Conventional Mortgages

Military home buyers have access to one of the most unique and powerful loan programs ever created. See how the VA Loan compares to a traditional home mortgage:

VA Loans

FHA Loans

Conventional Loans

0% Down

VA Loans are the only 0% down home loans available in urban areas.

3.5% Down

FHA guidelines require a minimum investment of 3.5% from the buyer.

5% Down

Conventional Loans require a minimum of 5% down, some newer programs require only 3% and even 1% down, but the buyer must have excellent credit score.


Since this loan is backed by the government, there is no Private Mortgage Insurance required.

MI for Life

FHA now requires that Mortgage Insurance is on the loan forever, even if you hit that 80/20 LTV.


If you put down less than 20% down payment, you are required to have Private Mortgage Insurance

Great Interest Rates

Since the VA is guarantying these loans, lender feels less of a risk and offer some of the best rates available.

Good Interest Rates

FHA loans also count on government backing and have MI, this also results in a great rate.

OK Interest Rates

Even though Conventional Loans do not offer the best rates, buyers with great credit can get a very low PMI resulting in lower payments.

Easy to Qualify

Since the VA is backing these loans, and they are meant for service men and women, the guidelines can be very lax when compared to other loans.

Strict Guidelines

FHA loans have great rates and low down payments but at the expense of very strict guidelines

Standard Guidelines

These loans are not as strict as FHA, but the guidelines are not that much different.


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