The VA (Veterans Administration) loan continues to quietly perform - zero down, seller paid closing costs, seller can pay revolving debt for buyer under certain circumstances and the default rate is only 4.69% confirming the myth the down payment is a crucial component for a loan to perform is FALSE!

The VA has always been a full document loan and not only looks at the veterans debt to income but also looks at residual income. In other words folks the focus here and with most loans that perform since the beginning of time is the ability to REPAY the loan not whether there is a down payment or not.

You must be active or have served in the military to be eligible. Over the two plus decades it has been a privilege to provide home loans to our brave men and women serving our country. Next time you see an active service member or veteran be sure and reach out to shake their hand and thank them for our freedom.

It is a shame HUD does not get on board and bring back the down payment assistance program feature but alas they are part of the great disconnect our government has with us here on main street.

I wish us all well.