No Down Payment

Reasons to choose a VA loan are numerous, but first-time home buyers who qualify may have added benefits when using their military home loan entitlements.

Often first-time home buyers have not accrued enough savings for a down payment on a home purchase. And first-time home buyers do not have proceeds from the sale of a prior home to put toward their real estate purchase. VA home loans enable eligible borrowers to buy a home with as little as zero money down. When compared to most other mortgage programs that may need between 3.5 and 20 percent cash down, a VA-guaranteed mortgage can help first-time borrowers retain any savings they do have for future use.