What is a VA loan and how does it compare to conventional?

A VA loan is a mortgage benefit available to eligible veterans, active duty service members, and some surviving spouses, backed by the Department of Veterans Affairs. The key advantage is zero down payment required and no private mortgage insurance, which can mean lower monthly payments compared to conventional loans. VA loans often have competitive interest rates and more flexible credit requirements. Conventional loans typically require at least three percent down and PMI if you put down less than twenty percent, but they have no funding fee like the VA loan does. Conventional loans also have fewer property condition requirements. The specifics depend on your situation and a licensed lender should confirm, and Jon can connect you with one.

Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.