Reduces or eliminates down payment requirements.
If you are a current or former member of the U.S. Armed Forces or the current or surviving spouse of a member, there is a loan option tailored just for you! A VA loan can help reduce or eliminate your down payment requirement, and can even help you get a lower interest rate on your loan. Subject to credit approval. Subject to credit approval. It will guarantee a maximum of 25% of a home loan amount up to $104,250, and there are no mortgage insurance premiums.