VA Loans

Veterans Affairs Mortgages (VA Loans)

What are VA Loans?

Veterans Affairs Mortgages are a great option for military veterans and active military lenders. Also known as VA loans, they are made by commercial mortgage lenders and are guaranteed by the Department of Veterans Affairs. These loans are one of the few options available for borrowers who do not have enough for a down payment and may have a low credit score due to their military service. Below are some important things to know regarding VA loans.


Almost all members of the military, as well as veterans and National Guard members are eligible to apply for a VA loan. Spouses of military members who were disabled or died during active duty may also apply. Active duty service members generally qualify with as little as six-months worth of service. National Guard members and Army Reservists must wait six years, unless called into active service, in which case their wait will only be 181 days.


VA loans have certain advantages over conventional loans, including no down payment and mortgage insurance requirements. These two advantages can help ease the financial stress of buying a home.

No down payment requirement makes it easier for you to purchase a home when you are ready to make the commitment. No mortgage insurance requirement removes the stress of additional monthly fees that mortgage insurance, or PMI, requires.

Please note that the above advantages do not absolve you of the need to be responsible with your money. You must have enough income to make your monthly mortgage payments and you must be able to pay the fees required to secure the loan.

Important Considerations

If you believe you are eligible for a VA loan, and would like to learn more, contact a trusted mortgage banker and let them help you navigate the process. You can get more information about VA loans here.

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Lynx Mortgage Bank LLC
NMLS #5838
143 Post Avenue, Westbury, Ny 11590 (877)599-LYNX (5969)
Licensed Mortgage Banker: NYS Department of Financial services

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