VA Loan Eligibility for Veterans

Buying a home in the current housing market with a VA loan is possible and there are some great advantages. The VA home loan is a program non-military home buyers with they had. Conventional and FHA loans require at lease 3.5 to 5 percent down. On a 250,000 home that could be up to $12,500.00. With a VA loan if you qualify, you can buy or build a home, or refinance an existing home mortgage, with as little as $0 down, great rates and financing with no mandated cap. Another benefit over traditional mortgages is that there is no PMI (Private Mortgage Insurance, the monthly insurance fee charged to protect the bank until you reach at least 20% equity).