This is a loan program insured by the Veterans Administration available to Veterans of the Armed Forces. It allows for 103% financing so a veteran can buy a home for no money down and finance the closing costs. The VA charges an up-front funding fee (which can be financed into the loan) that varies based on whether or not it is first time getting a VA mortgage for the borrower. This program is a perfect option for a Veteran seeking the most affordable type of home financing.

Loan terms: 15 & 30 Year

Loans Loan types: Purchase, Refinance

Interest Rate Types: Fixed, Adjustable

Property Type: Primary Residence

Available to eligible veterans only

No down payment required

VA up-front funding fee, but no monthly Mortgage Insurance

Allows for no cost, limited qualifying streamline refinance

Subject to VA eligibility rules