A “No Money Down” purchase loan means just that – you pay NO money down
America’s veterans can fulfill the American dream of home ownership with the following benefits:
- No down payment – keep more cash in the bank
- Low interest rates
- Low closing costs
- No private mortgage insurance required
- Fast, efficient, common-sense underwriting
- Knowledgeable, friendly, and accessible staff of lending professionals to assist you every step of the way
As a veteran or active duty service member, you’ve earned the right to obtain a VA guaranteed home purchase loan that requires no down payment. This VA loan program was created to help veterans and eligible surviving spouses own a home with fixed-rate financing at lower interest rates than traditional loans.
With a VA purchase loan, there is no Private Mortgage Insurance (PMI) to pay. Whereas, FHA and Conventional loans may add the cost of this insurance to your monthly payment. A VA purchase loan may eliminate this extra cost.
With First Federal Bank, the loan process is simple and easy. We strive to give you the loan solution you need to help you on your way to financial freedom!