As a benefit earned through military service, VA loans offer eligible veterans, active-duty service members, and surviving spouses a flexible path to homeownership.

These loans are designed to reduce upfront costs and make qualifying more accessible,

with options for both fixed-rate and adjustable-rate mortgages.

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What is a VA loan?

A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs and offered through approved lenders. One of the biggest advantages is the ability to finance up to 100% of the purchase price, meaning no down payment is required.

Borrowers still must qualify based on credit, income, and ability to repay the loan. If a borrower’s financial profile needs improvement, a lender may recommend paying down debt or strengthening savings before approval.

While a down payment is not required, buyers are still responsible for certain closing costs, such as title and recording fees. In many cases, these costs can be negotiated with the seller and should be discussed with your real estate agent early in the process.

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The VA loan process

The VA loan process is similar to most home purchases. The buyer makes an offer with agreed-upon terms, and the loan moves through lender approval. A key difference is that the VA requires the home to meet specific property and safety standards.

An appraisal is ordered to confirm value and ensure the home is safe, sound, and livable. If issues are identified, repairs may be required before closing. This does not usually prevent the loan from moving forward but can add time to the process. In limited cases, VA renovation options may be available.

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How VA Loans Work

• Purchase with 0% down payment

• Fixed-rate terms available in 30-, 25-, 20-, and 15-year options

• 5-year adjustable-rate mortgage option available

• Jumbo VA loans available

• VA Streamline Refinance (IRRRL) for existing VA borrowers with reduced documentation

• No monthly private mortgage insurance (PMI)

• No pre-payment penalties

Have questions? Give us a call. One of our mortgage specialists would be happy to help.

This company is not affiliated with or acting on behalf of the U.S. Department of Veterans Affairs or the federal government.