Insured by the Veterans Administration, VA loans are a type of financing available for eligible service members. Veterans, reservists, active duty personnel, and their eligible family members can all qualify for VA financing. A VA loan is a great financing option if you are eligible, as there are both low and NO down payment options available with a wide range of terms. This type of financing allows for the closing costs to come from a grant or a gift and allows seller contributions leading to little out-of-pocket expenses. Both fixed and adjustable interest rates are options that are available and our experts can help determine which alternative is best for you. There is a one-time VA funding fee required if the veteran is not exempt; however there is no mortgage insurance with VA loans. VA loans may only be used on the purchase or refinance of a primary residence and may not be used on investment property.