A VA-backed mortgage is very similar to FHA-insured loans, except:
- The Government (through the Veterans Administration) insures the lender against loss on only part of the home loan.
- The loans are available, only to veterans with minimum periods of duty during specific periods of time
- It’s possible to get a zero downpayment home loan!
That’s right, a qualifying veteran can get a 100% mortgage to buy a home. See your local Veterans Administration office for more information on this benefit. And one more thing, THANK YOU FOR YOUR SERVICE!