mortgage loans for veterans and active-duty military
Veterans Affairs (VA) loans provide special financing just for veterans and active-duty members of our military — our small way of saying “thank you.”
VA loans are a special type of mortgage option designed to provide long-term home financing to active military members and veterans. In many instances, their interest rates can be better than other conventional loans, saving you money in the long run. Plus, no down payment is required, which keeps more cash in your pocket now. It’s the best of both worlds.
These home loans are guaranteed by the United States Department of Veterans Affairs and offered by participating approved lenders like Waterstone Mortgage. Because they are backed by the government, VA loans have more flexible requirements, like a wider credit score threshold than many other loan programs.
benefits of using a VA loan
- No down payment required*
- No penalty fee if you pay the loan off early
- No private mortgage insurance requirements
- Credit score requirement as low as 580
- VA may be able to provide some assistance if mortgage payment problems arise
- Loan limits up to $1.5 million — full VA entitlement required
who is eligible for a VA loan?
You may qualify for a VA loan if you are a:
- Active-duty military member
- Reservist or member of the National Guard
- Surviving spouse of a veteran