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VA Mortgage Loans

FHA and VA home loans offer more flexibility.

You don’t need a large down payment and a high credit score to buy a home. The Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) work with lenders to provide low-cost mortgages with expanded qualifying criteria.

FHA mortgage programs

• Down payment as low as 3.5%
• Low closing costs
• Loans with fixed or adjustable rate mortgages1
• For homes with 1-4 units, condos, planned unit developments, and manufactured homes2

VA mortgage programs

• Available to eligible veterans, active-duty personnel, and some spouses
• Down payment as low as 0%
• Limited closing costs and no mortgage insurance payments
• Loans with fixed or adjustable rate mortgages1
• For homes with 1-4 units, condos, planned unit developments, and manufactured homes2

1With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of the reset. Your payment amount will vary based on any adjustment in the interest rate after the fixed-rate period, and your monthly payment may increase. Your variable rate can adjust bi-annually, or every 6 months, for the remaining life of the loan.

2Fixed-rate products only, multiple-width home only; no new construction.

FHA: Purchase, rate/term, or cash-out refinance of a primary residence. Mortgage insurance is required. Program terms available may vary based on the state or county in which the financed property is located.

VA: Purchase or cash-out refinance for a 1- to 4-Unit primary residence only. Program terms available may vary based on the state or county in which the financed property is located. Not available in Puerto Rico.

CONSIDERATIONS: Important information will be provided to you in the disclosures you receive after we have received your application and the loan documents you are provided at loan closing. Please consult your tax advisor regarding the deductibility of interest.

Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval and product requirements, including loan to value, credit score limits and other lender terms and conditions. Fees and charges may vary by state and are subject to change without notice. Some restrictions may apply. Not a commitment to lend. 08/22