• Zero down payment
• Easy credit qualifications. Lenders are able to take on riskier buyers since the loan is backed by the VA. Buyers who might be turned away for conventional loans may be approved for a VA loan.
• Competitive interest rates. You can choose either a fixed or adjustable rate mortgage and save money over many conventional loan offers.
• You have the option of paying off your mortgage early without being penalized.
• You do not need to purchase private mortgage insurance (PMI). That can translate to long-term monthly savings.
• There are low caps on closing costs with most buyers paying no more than 1-3%. In some cases, closing costs may not apply.
• Funding fees are waived for disabled service members.

Many people who cannot afford or qualify for a conventional loan are able to make their housing dreams come true through a VA loan.