VA Loan

 Qualified U.S. military members (active duty, veterans and eligible family members) can apply for loans backed by the U.S. Department of Veterans Affairs (VA). VA loans come with lower interest rates compared to other loan types, and don’t require a down payment. Borrowers, however, will need to pay a funding fee, but it can be rolled into your monthly loan costs. Some servicemembers might be exempt from paying this fee, as well.