A loan offered exclusively to military service members (active or retired), a VA home loan requires no down payment, making it one of the best ways to purchase or refinance a home.
Approved VA lender—No down payment option
Dedicated loan advisor to help you every step of the way
Mortgage Service Guarantee —We'll close your loan on time or pay you $500
Fixed interest rates available
Competitive rates and flexible terms
Cash out options available
Choose to purchase or refinance
What You Need to Know
Make your VA and military benefits work for you
- No down payment option. Finance 100% of the purchase price.
- Qualifications guidelines. The VA has specific rules for this loan product.
- No mortgage insurance costs.1 VA borrowers do not pay mortgage insurance. This keeps your total cost lower. Other loans require this extra cost unless you make a larger down payment.
- BAQ. If you receive BAQ, you will always use your allowance to pay for some or all of your monthly payment.
- Flexible credit standards.
Choose from low-cost options
- Purchase or refinance. The VA loan program is available to qualified borrowers who are first-time buyers, repeat buyers or planning to refinance.
- No pre-payment penalty. You are free to make extra payments at your convenience.
- Fixed or adjustable interest rates. VA loans offer fixed or adjustable rates as good as and sometimes better than conventional loans. With a fixed rate, your monthly payment (principal + interest) will not fluctuate making it easier for you to budget your monthly payment. With an adjustable rate, you can take advantage of a low rate for a fixed amount of time. This is especially beneficial if you are planning to be in your home for less than 7 years.
Work with an approved VA lender
- VA Automatic Approval. Academy Bank is recognized as an approved VA lender. Because we have VA Automatic Approval status, you can work directly with us rather than having to also coordinate with the VA. We help you get started, and we stay with you throughout the process.
If you are a service member on active duty and want to refinance your VA loan, be sure to check with your legal council on benefits that may be affected.