Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
A VA loan may be used for a variety of different home purchases. If you are a military member, you must meet all qualifications in order to use a VA loan for the purchase of a home. The VA loan can be used for many different types of loans. Here is a brief list.
- Buying a New Home: You can use a VA loan for the construction of a new home.
- Buying a Townhouse or Condo Unit: The project must be approved by the VA in order for the complex to be eligible.
- Repairing a Home: You can also buy a home and improve it at the same time by using a VA loan.
- Refinancing Your Existing Home: You can refinance your existing VA loan in order to get a lower interest rate and add energy efficient improvements.
- Refinancing a Manufactured Home Loan to Buy a Lot: If you already own a manufactured home that you purchased with a VA loan, you can then refinance the loan in order to buy a lot on which you will place your manufactured home.
- Second Mortgages: Advantages and Disadvantages
- 3 Factors that Can Negatively Affect Your Mortgage Application
- FHA Loans for a First-Time Home Buyer
- 3 Common Short Sale Mistakes
- Low Down Payment Loan Qualification
- 3 Reasons Banks Reject Short Sales
- Home Equity Loans for People with Bad Credit
- Should You Refinance? Make Sure the Timing is Right
- What To Do When Mortgages Default