VA Loan Program
The VA Loan Program, backed by the U.S.
Department of Veterans Affairs, offers a
fantastic opportunity for U.S. military
veterans, active-duty service members,
and select military spouses to purchase
homes with significant benefits.
Notably, this program allows for no down
payment, no private mortgage insurance
(PMI), and competitive interest rates. It’s
designed to honor those who have
served by making homeownership more
accessible and affordable.
Scenarios and Potential Applicants:
- Veterans looking to buy their first home or upgrade to a new one.
- Active-duty service members planning for future homeownership.
- Military spouses seeking stable housing options.
- Veterans interested in refinancing their current home.
Requirements:
- Eligible service in the U.S. military (veterans, active-duty, certain reservists and National Guard members, and some surviving spouses).
- Certificate of Eligibility (COE) from the VA.
- The home must be the applicant’s primary residence.
- Meet the lender’s credit and income criteria