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With the help of VA loans, service persons and veterans can buy a home with easy terms and conditions. The interest rates in VA home loans are quite low as compared to the traditional mortgage loan.

Even better, you can avail VA home loans through private mortgage lenders. With so many private mortgage lenders operating in the market, you will not face any problem in finding a reputed and experienced mortgage lender.

It’s usually the government that guarantees a VA loan but point to be noted here is that the actual home loan is implemented by a private mortgage lender. In other words, one can safely say that the government acts as your co-signer. However, you need to have a good credit score in order to qualify for the VA home loan.

If your source of income is not too high and you cannot pay insurance, taxes and mortgage payments on time, lender will not approve your loan application.


There is no requirement of any down payment, as long as the loan is less than or equal to your property value. It has been noticed that the government guarantees more than $30,000 to mortgage lenders, which is pretty much like a down payment to the lender.

Because of this, you do not need to pay mortgage insurance premiums. Some of the advantages of VA home loan are mentioned below:

  • You do not need to pay any prepayment fees to the lender.
  • The interest rates in VA home loans is negotiable.
  • When you avail VA home loan, you will get a warranty from your builder with regard to home inspection by the VA at the time of construction.


The process of availing a VA loan is quite similar to traditional mortgage loan. To start with, select a home of your choice. Once you have managed to find a home of your choice, you need to apply for a loan.

When applying for VA home loan, make sure that you have submitted all the documents to the lender. Fill the application form carefully because any mistake can lead to the rejection of your loan application.