VA Loans

The Veterans Administration provides insurance to lenders in cases of default. Because the mortgage is guaranteed, lenders will offer lower interest rates and better terms than with a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties.

Additionally, there are services that may be offered to veterans in danger of defaulting on their loans. VA home loans are available to military personnel that have served either 181 days during peacetime or 90 days during a war, or to the spouse of a serviceperson killed or missing in action.