VA Home Loans
A benefit offered exclusively to military service members (active or retired).
VA home loans require no down payment, making it one of best ways to purchase or to refinance a home.
Make your VA and military benefits work for you
- No down payment. Finance 100% of the purchase price.
- Qualification guidelines. The VA has specific rules for their loan product.
- No mortgage insurance costs. VA borrowers do not pay mortgage insurance. This keeps your total cost lower - other loans require this extra cost unless you make a larger down payment.
- BAQ. If you receive BAQ, you will always use your allowance to pay for some or all of your monthly payment.
Choose from low-cost options
- Purchase or Refinance. The VA loan program is available to qualified borrowers who are first-time buyers, repeat buyers or planning to refinance.
- No pre-payment penalty. You are free to make extra payments at your convenience.
- Fixed or adjustable interest rates. VA loans offer fixed or adjustable rates as good as and sometimes better than conventional loans. With a fixed rate, your monthly payment (principal + interest) will not fluctuate making it easier for you to budget your monthly payment. With an adjustable rate, you can take advantage of a low rate for a fixed amount of time – this is especially beneficial if you are planning to be in your home for less than seven years.
Work with an approved VA lender
- VA Automatic Approval. Armed Forces Bank of California is recognized as an approved VA lender. Because we have VA Automatic Approval status, you can work directly with us rather having to also coordinate with the VA. We help you to get started and we stay with you throughout the process.