What is a Veteran’s Administration (VA) Mortgage Loan?

Veteran’s Administration (VA) loans are available to members of the armed forces, veterans, and their spouses. Loans are made for up to 100 percent of the home’s value. The home must be the borrower’s primary residence. Loans may be assumable. The veterans must have served 180 days in peacetime or 90 days in wartime, including recent Gulf and Iraq wars.

For more information about VA loan eligibility, see http://www.valoans.com/va_article?id=319.