VA Loans:
The Department of Veterans’ Affairs (VA) has a loan program for eligible veterans, current servicemembers, and surviving spouses . The loans are made by private lenders and guaranteed by the VA.
- Often offer low-cost, streamlined refinance options and additional protections if you have trouble paying your mortgage later on
- Do not require monthly mortgage insurance premiums, but usually require an upfront fee at closing
- Are available with low or even zero down payments, but may be more expensive than conventional loans if you have significant down payment funds and good credit
