The Department of Veterans Affairs (VA) Home Loan program guarantees loans made to eligible Veterans, Servicemembers, Reservists, National Guard members and certain surviving spouses.
VA guarantees a percentage of the loan. This helps the Veteran obtain a no-down payment mortgage at a competitive interest rate that does not require private mortgage insurance.
VA-guaranteed loans may also be refinanced. Go to Home Loan Interest Rate Reduction Refinancing to see the program requirements.
To obtain the most advantageous financing, VA encourages eligible Veterans, Servicemembers, Reservists, and National Guard members to meet with several lenders to determine the best mortgage terms to meet individual needs and circumstances.