This might be the best program available to a consumer. No money down plus there is NO mortgage insurance. The United States Department of Veterans Affairs established this program to help veterans and their families obtain home financing. The Department of Veterans Affairs established the rules for those who may qualify, dictates the terms of the mortgages offered and insure VA loans against default. VA loans offer up to 100% financing on the value of a home. To qualify for a VA loan, borrowers must present a certificate of eligibility, which establishes their record of military service. Borrowers can pay off a VA mortgage early with no prepayment penalty.
“Quick Facts about VA Loans”