VA Home Loans
Earned through service, with no down payment required
A VA loan is a home loan guaranteed by the Department of Veterans Affairs. It is one of the best financing options available, and many buyers in our area have earned it through their service.
Who is eligible
VA loans are for eligible veterans, active duty service members, members of the National Guard and Reserves, and some surviving spouses. Eligibility depends on length and type of service. Your lender can pull your Certificate of Eligibility for you.
Why buyers like VA loans
Most VA loans require no down payment. There is no monthly mortgage insurance, which keeps the payment lower than many other low down payment loans. Interest rates are often competitive, and the VA limits what you can be charged in closing costs. There is a one-time funding fee, which some veterans with service-connected disabilities do not have to pay.
What to know for North Idaho properties
VA loans are for a home you will live in. They can be used for homes on acreage as long as the property meets VA standards, and they can work for some manufactured homes. The home will need a VA appraisal, which looks at both value and condition.
Next steps
We are not lenders, but we work with local lenders who handle VA loans regularly and can walk you through it. Call us at (208) 267-2100 or send us a note on our contact page.
