Make the Most of Your VA Home Loan Benefit

Eligible veterans may buy a home with no down payment, refinance to a lower rate, or take cash out of their home equity. Answer a few questions to get started.

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Buy a home No down payment option for eligible buyers Refinance You may lower your rate and monthly payment Use my equity Take cash out of your home equity

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VA home loan benefits

What a VA-backed loan can offer

Here are key benefits VA.gov lists for VA-backed home loans. Pick your goal above to see your options.

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Nearly 90% of VA-backed loans are made with no down payment. Source: VA.gov

No down payment As long as the sales price isn't higher than the home's appraised value.
No private mortgage insurance No need for PMI. A one-time VA funding fee may apply.
May offer better terms Compared with a traditional loan from a private bank, mortgage company, or credit union.