VA Loans or Veteran’s Affairs loans are specific loans for veterans, active-service-duty members and their families to purchase a home. They can also be utilized by widowed military spouses. VA Loans are backed by U.S. Department of Veterans Affairs and have been around since the GI Bill in 1944. For those who qualify, these loans usually don’t require down payments and come with more favorable loan terms.
Example of VA Loans
For example, if this is your first time securing a VA Loan, the funding fee is typically 2.3 percent of the purchase price of the home you are looking to buy.
Here is a listing of the different VA loan types. After we do a specific analysis of your status as a veteran, we can figure out the best way to move forward with your loan application.