VA home loans, also called VA loans, are designed for eligible veterans, active duty service members, and surviving spouses. They may offer no down payment, no monthly mortgage insurance, and competitive interest rates, making VA financing one of the most affordable ways to buy or refinance a primary residence.
VA home loans are government-backed mortgages offered exclusively to eligible veterans, active-duty service members, and surviving spouses. Insured by the U.S. Department of Veterans Affairs, these loans make homeownership more affordable by eliminating the need for a down payment and private mortgage insurance while offering competitive interest rates.
VA loans are designed for veterans, active-duty military members, National Guard and Reserve service members, and eligible surviving spouses. These loans provide financial advantages that make it easier to purchase a home, refinance an existing mortgage, or even access home equity.
VA loans require no down payment, meaning eligible borrowers can finance 100 percent of the home’s purchase price. There is no PMI requirement, which significantly lowers monthly payments. VA loans also feature lower interest rates, flexible credit requirements, and no loan limits for eligible buyers.
VA loans include VA Purchase Loans, which allow eligible buyers to purchase a home with no money down, and VA Interest Rate Reduction Refinance Loans (IRRRLs), which help lower interest rates on existing VA mortgages. VA Cash-Out Refinance Loans allow veterans to tap into home equity for debt consolidation or home improvements.
VA loans offer zero down payment, making homeownership more accessible without the financial burden of a large upfront cost. No PMI reduces monthly mortgage payments, saving borrowers thousands over the life of the loan. VA loans also provide lower interest rates, flexible credit requirements, and limits on closing costs to make home buying more affordable.
If you’re an eligible service member or veteran looking for a zero down payment mortgage with lower monthly costs, a VA loan may be your best option. With exclusive benefits and flexible loan terms, VA financing offers a cost-effective way to achieve homeownership. Speak with a VA loan expert to explore your eligibility and options.
Jon Shrum, President of KMC Financial and Team Shrum, is committed to helping veterans and service members make the most of their VA benefits. He explains eligibility, funding fees, and refinance options clearly, and works to secure competitive rates with no monthly mortgage insurance. With respect, integrity, and personal service, Jon makes the VA loan process smooth and straightforward.
VA home loans, also called VA loans, are designed for eligible veterans, active duty service members, and surviving spouses. These FAQs explain how VA loans work, who may qualify, and why VA financing is one of the most affordable ways to buy or refinance a primary home, often with no down payment and no monthly mortgage insurance.
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs. It helps eligible borrowers buy or refinance a primary residence with flexible guidelines, competitive interest rates, and strong borrower benefits.
Many VA loans allow qualified borrowers to purchase a home with no down payment. Some buyers may still choose to put money down to lower the loan amount or reduce the VA funding fee, but a down payment is not required for many applicants.
VA loans do not require monthly private mortgage insurance, which may reduce your monthly payment compared to other low down payment loan programs. Most VA loans have a one time VA funding fee instead, depending on eligibility and down payment.
Eligibility is based on military service, such as veterans, active duty service members, National Guard or Reserve members, and some surviving spouses. You typically confirm eligibility with a Certificate of Eligibility, often called a COE.
The VA does not set a minimum credit score, but lenders may have their own guidelines. Many borrowers qualify with moderate credit, and lenders also consider your income, debt to income ratio, and overall financial profile.
Yes. VA loans can be used to refinance, including the VA Interest Rate Reduction Refinance Loan, often called an IRRRL, which may help eligible borrowers lower their rate or move from an adjustable rate to a fixed rate.
Yes. Many borrowers can use VA loan benefits multiple times. Your available entitlement depends on how much you have used and whether a previous VA loan has been paid off or the home has been sold.
