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What is a VA Loan?
I remember when I joined the army I’d heard about the VA Loan and wasn't sure what it was about. I just heard it was really good. Now I know for a fact (having received one myself) that it’s really good. The VA Loan is made for veterans, military members currently serving in the U.S. military, reservists, and surviving spouses. It can be used to buy single-family homes, condominiums, multi-unit properties, manufactured homes, and new construction.
 
Simply put, it’s a benefit for the veterans, it’s a mortgage. The most important part is that you can literally put 0% down, so it’s basically a 100% financing. Other types of mortgages could give you up to 90% - 97%. Regarding closing costs, you can get a seller, a lender or a realtor to help you with it.
 
Again, the VA has become the mortgage with the lowest down payment in the US, that’s one of the biggest benefits, but there’s a bunch of other things as well.  For example, your credit status and your debt to income ratio are not big factors like in other loans. So more veterans can qualify without the best credit, little to no down payment, and low income.  Sounds ... more

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