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VA Home Loans: Benefits, Features, Types, Coverage

Features of VA Loans

  • No down payment required, (for qualified borrowers)
  • Competitive interest rates available
  • Financing available for funding fee
  • Reduced funding fees in certain circumstances
  • Limits on closing cost charges
  • Comparable closing costs with conventional home loans
  • Seller may cover closing costs
  • Private mortgage insurance is not required
  • Mortgages may be assumed
  • Prepayment of mortgage with no penalty
  • Builder warranty/cooperation, (if inspected by VA) during construction
  • Temporary payment assistance if buyer is in default

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