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WHAT IS A VA MORTGAGE?
A VA mortgage is a mortgage that is guaranteed by the Department of Veterans Affairs, this also is known as a government mortgage. Loans are guaranteed through this department as well. People who have served in the armed forces or their dependents or survivors will be the ones who are guaranteed top priorities that will receive a mortgage. It doesn't matter about the money, either you have little or no money, you will get a easy and or a relative low interest rate. This loan is typically a no money down program with limited closing costs. However no matter what the loan has to be approved and be able to make the qualifications to the limited possibility loss by the lender. Therefore the lender needs to be insured against loss by the Veterans.
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