Purchase

VA Loan

(guaranteed by the U.S. Department of Veterans Administration)

Designed to offer financing to eligible American veterans or their surviving spouses. VA loans require NO Downpayment. VA loans require a Funding Fee (again similar to FHA's UFMIP and USDA's Funding Fee) that is based on whether the veteran is Active Duty/Veteran or Reservists/National Guard and on the loan category (less than 5% down payment, 5-10% down payment, 10% or more down payment, etc.). VA loans are subject to maximum loan limits found here on VA's County Loan Limits.