| The VA home mortgage loan is very similar to a | | | | Veterans, during peacetime, who have served active |
| conventional home loan in the sense that it offers | | | | duty a minimum of 181 days |
| financing on the subject property. However, the | | | | Reserve members who have served six years |
| notable difference is that no down payment is | | | | Veterans who receive a discharge under general |
| necessary, a funding fee subject to the loan amount | | | | conditions or above (not dishonorable). |
| and prepayment penalties do not exist. | | | | The advantage of not having to put down a typical |
| The Factors that Determine if You are Eligible for a | | | | conventional loan down payment of |
| VA Home Loan? | | | | ten-to-twenty-percent is a large advantage for most |
| It is available to: | | | | who choose the program. It permits buyers who are |
| Veterans, during a war, who have served active duty | | | | financially capable of making the monthly loan |
| service a minimum of 90 days | | | | payments to finalize their dream of owning a home. |