What Is a VA Loan?

A VA loan is a mortgage benefit provided by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, and surviving spouses. VA loans offer some of the most favorable terms available — including no down payment and no private mortgage insurance — as a thank-you for your service.

Who Qualifies?

You may be eligible if you served 90 consecutive days of active service during wartime, 181 days during peacetime, more than 6 years in the National Guard or Reserves, or are the surviving spouse of a service member who died in the line of duty. CFC Mortgage will help you obtain your Certificate of Eligibility (COE).

Key Benefits

• No down payment required (100% financing)
• No private mortgage insurance (PMI)
• Competitive interest rates — often lower than conventional
• Limited closing costs
• No prepayment penalty
• Can be used multiple times
• Streamline refinance (IRRRL) available