Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: What is the typical down payment on a VA Loan?

Most loans require at least a small down payment to buy a home, however VA loans are an exception to this rule. VA loans allow for 100 percent financing of the home’s purchase price, which means NO down payment is required for loans that are within the conforming limit (453,100 as of January 1st 2018), given the borrower has eligibility (determined by the VA) and qualifies for the loan.

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