VA Financing
VA Financing
Active-Duty or Veteran Military Service Members and Their Families
What Is VA Financing?
VA loans are a special type of mortgage backed by the U.S. Department of Veterans Affairs (VA). They are designed to help eligible military service members, veterans, and their families purchase, build, or refinance a home with favorable terms.
Types of VA financing:
Fixed-Rate
A fixed-rate mortgage is a type of home loan where the interest rate remains constant throughout the entire term of the loan. This means:
Your monthly principal and interest payments will never change, regardless of fluctuations in the broader economy or interest rate markets.
Even if national interest rates rise or fall, your rate is “locked in” from the beginning.
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Adjustable-Rate (ARMs)
An adjustable-rate mortgage (ARM) is a type of home loan where the interest rate is not fixed for the entire term. Instead, it starts with a lower introductory rate for a set period, and then the rate adjusts periodically based on market conditions