VA Loans
VA loans offer zero-down financing options for eligible veterans, active-duty service members, and military families.
Overview
VA loans are mortgages guaranteed by the U.S. Department of Veterans Affairs. They are available to eligible veterans, active-duty service members, National Guard members, and certain surviving spouses. VA loans offer significant benefits including no down payment requirement, no private mortgage insurance, and competitive interest rates.
Frequently Asked Questions
Who is eligible for a VA loan?
VA loan eligibility is based on military service history. Veterans, active-duty service members, National Guard and Reserve members who have served the required period, and certain surviving spouses of veterans may be eligible.
Do VA loans require a down payment?
No, VA loans allow 100% financing with no down payment required, up to the county loan limit. This is one of the most significant benefits of the VA loan program.
What is the VA funding fee?
The VA funding fee is a one-time charge that helps fund the VA loan program. It varies based on down payment amount and whether it is the borrower’s first or subsequent use of the VA loan benefit. Certain veterans are exempt from the funding fee.
Can I use a VA loan more than once?
Yes, VA loan benefits can be used multiple times. If you have paid off a previous VA loan, you can have your entitlement restored and use it again for another home purchase.
Speak With a Mortgage Strategist
Have questions about va loans? Get personalized guidance from a licensed mortgage professional at NEXA Lending.
Request a Consultation
Complete the form below and a mortgage strategist will contact you within one business day.