Do VA home loans require a down payment?

VA home loans are a unique benefit available to veterans, active-duty service members, and certain members of the National Guard and Reserves. One of the key features of VA loans is that they do not require a down payment, which is a significant advantage. This benefit allows eligible borrowers to finance up to 100% of the home's purchase price without having to save for an upfront down payment, making homeownership more accessible for those who have served in the military.

The absence of a down payment requirement is designed to support veterans and service members, enabling them to take advantage of homeownership opportunities even if they may not have substantial savings. This aspect highlights the VA's commitment to serving those who have served the country by reducing one of the major barriers to home buying. Additionally, VA loans typically come with other favorable terms, such as competitive interest rates and no private mortgage insurance (PMI) requirement.