A “VA loan” is a national federal federal government home loan guaranteed in full by the Veterans Administration. The mortgage system was made in 1944 and finalized into legislation by President Franklin D. Roosevelt. Therefore VA mortgages have been in existence awhile.
Probably the most notable element of a VA mortgage is being able to offer veterans and/or their surviving partners with a home loan with zero advance payment, otherwise referred to as 100% funding. (more…)