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Veterans Administration (VA)
The U.S. Department of Veterans Affairs, commonly referred to as the Veterans Administration (VA), offers various programs to veterans. One program offers benefits for buying a home. For example, veterans that use the program can purchase a home with no money down. Additionally, the interest rates offered on VA loans are usually very competitive and often lower than rates offered by other loan programs. Borrowers who are interested in using the programs offered by the Veterans Administration on a home purchase simply need to advise the lender during the application process. The lender will customize the loan approval based on the criteria set forth by the VA. Borrowers may qualify for a larger loan amount when utilizing special programs like this because the interest rate is generally low. Borrowers can also inquire with the local VA office for more details.