What is a VA loan?
The VA helps military service members, veterans, and eligible surviving spouses with qualifying for a mortgage — both for home purchase or refinancing. The Veterans Administration doesn’t actually lend the money for the mortgage; instead, it backs the loans made by private lenders to those who qualify.
VA loans offer many benefits including competitive rates, little to no down payment, and often no mortgage insurance. This could help save you over $100 a month in comparison to a FHA mortgage!