VA Loans:

Veterans Administration (VA) mortgages are guaranteed by the VA with very flexible underwriting and down payment guidelines for veterans and their spouses only.

• No down payment required
• Impound account is always required
• No monthly mortgage insurance
• A one-time funding fee is required at close. The funding fee can be financed into the loan amount, similar to FHA’s up-front mortgage insurance.
• Can only purchase as a primary residence