Did you know that military members get special help buying a home? It's called a VA loan!
It's a type of mortgage that helps veterans and their families. It has some cool features that make buying a house easier.
The government helps the bank take a risk, so you might get a loan even with little money to start.
- No down payment needed (often!).
- Lower interest rates compared to regular loans.
- Lower closing costs.
- No extra insurance needed.
| Feature | Details |
|---|---|
| Average interest rate (March 2025) | VA loan: 6.22%; Regular loan: 6.79% |
| Down payment | Usually 0%, but lenders might have rules. |
| Funding Fee | 1.25% to 2.15% of the loan amount (for first-time buyers). Can be financed. |
