A VA mortgage is a home loan program designed specifically for eligible veterans, active-duty service members, and certain members of the National Guard and Reserves. Guaranteed by the U.S. Department of Veterans Affairs (VA), these loans provide significant benefits, including no down payment, competitive interest rates, and no requirement for private mortgage insurance (PMI). VA loans are a popular choice for service members and their families, offering more flexible credit and income requirements compared to conventional loans.

One of the standout features of VA loans is the VA Funding Fee, a one-time payment that helps sustain the program. This fee can often be rolled into the loan amount, and certain veterans, such as those with service-related disabilities, may be exempt. With their unique benefits and affordability, VA mortgages are an excellent way for those who’ve served to achieve homeownership.