VA Loans
This loan program provides qualified veterans the ability to obtain a mortgage with no down payment and no monthly mortgage insurance. The VA requires payment of an upfront "VA funding fee" which can be financed as part of the loan. A veteran who has been disabled in the line of duty is exempt from the VA funding fee. Another advantage of the VA program is that veterans can exceed the conventional loan limit with a relatively small down payment (compared to a conventional loan) and still have no monthly mortgage insurance.