VA Loans
VA loans are available to veterans, active-duty military members, and eligible surviving spouses. They are guaranteed by the Department of Veterans Affairs, which protects lenders if the borrower defaults. VA loans typically offer more favorable terms and rates than conventional loans and require no down payment.
VA loans do not require mortgage insurance, which saves on monthly payments, and they have flexible credit requirements. Overall, they are a valuable benefit for those who have served.
VA Loan Characteristics
Available to eligible veterans, active-duty members, and eligible surviving spouses
Guaranteed by the Department of Veterans Affairs
No down payment required
Typically more favorable terms and rates than conventional loans
No mortgage insurance
Flexible credit requirements
Usable for single-family homes, multi-unit properties, and condominiums
Refinance options including streamline and cash-out
5) Conventional loans offer options for fixed or adjustable interest rates
6) Conventional loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
7) Conventional loans do not require mortgage insurance if the borrower puts down at least 20% of the purchase price
8) Conventional loans offer options for refinancing, including cash-out refinancing and rate-and-term refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
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This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. Copyright © 2026 NEXA Mortgage, LLC NMLS#1660690. AZBK #2006218. 5559 S Sossaman Rd Bldg #1 Ste #101 Mesa, AZ 85212, 602-344-9333. www.NEXALending.com NEXA Mortgage, LLC is an Equal Housing Lender | Equal Housing Opportunity. All rights reserved.