What makes a VA loan extra special?

VA loans are backed by the Department of Veterans Affairs so credit unions like UMe can offer incredible loans to incredible people like you who have served our country.

VA insurance means that the feds will give back a portion of the money loaned to you to buy your home if it turns out you can’t pay your mortgage (not gonna happen, we know!). This backing means we might be able to offer you a loan even if your financial situation isn’t typical.

Here are a few of the best things about VA loans:

• No down payment needed
• Easier qualifying – we’re not just looking at your credit score
• Your income can be a little lower but it can also be higher (FHA loans have an income limit, you see)
• Limited closing costs because the VA puts a cap on what you can be charged
• You can use a VA loan to buy your first home or you can be a repeat buyer
• You can transfer your VA home loan to another eligible Veteran in future (because it’s what we call “assumable”)