A VA guaranteed loan is a mortgage loan that is insured by the U.S. Department of Veterans Affairs (VA). This means that the VA guarantees to repay the lender a portion of the loan if the borrower defaults on the loan. This guarantee makes it easier for veterans to obtain a mortgage loan, even if they have a low credit score or a limited down payment.

VA guaranteed loans are available to eligible veterans and their surviving spouses. To be eligible, you must have served on active duty for at least 90 days, or for any length of time during wartime. You must also be discharged under honorable conditions.

VA guaranteed loans offer a number of benefits, including:

No down payment required
No mortgage insurance premiums (MIP)
Competitive interest rates
Flexible credit requirements
If you are a veteran or surviving spouse, you may be eligible for a VA guaranteed loan. To learn more about this program, visit the VA website or contact a VA-approved lender.

Here are some of the key features of VA guaranteed loans:

No down payment required
No mortgage insurance premiums (MIP)
Competitive interest rates
Flexible credit requirements
Up to $1 million loan amount
Eligible for veterans and surviving spouses

VA guaranteed loans can be a great option for veterans and their families who are looking to buy a home. These loans offer a number of benefits that can make it easier to obtain a mortgage loan, even if you have a low credit score or a limited down payment.

If you are a veteran or surviving spouse, we encourage you to learn more about VA guaranteed loans and see if they are right for you.