The U.S. Department of Veterans Affairs guarantees mortgage loans for veterans and service persons. The guaranty allows veterans to obtain home loans with favorable loan terms, usually without a down payment. VA loans are available.

The U.S. Department of Veterans Affairs does not make loans, it guarantees loans made by lenders. To obtain a VA loan you may locate a lender using Albright Financial. We will normally require a Certificate of Eligibility before they can process a VA loan. This may be obtained by sending the form DD-214 to the local VA office along with VA form 1880.

Lenders offer 30-year fixed, 15-year fixed and 30-year adjustable loans under the VA program. The VA loan limit for 1996 is $207,000. The most attractive feature of a VA loan is that no down payment is required. In addition, it is easier to qualify for a VA loan than a conventional loan. This is because the loans is guaranteed by the U.S. Department of Veterans Affairs