If you have served, or are currently serving in, the U. S. Armed Forces you may be eligible for a VA Loan. These loans were established as a part of GI Bill. They are designed to make owning a home affordable for veterans, and are guaranteed by the U.S. Department of Veteran Affairs. In order to apply for a VA Loan you must first obtain a Certificate of Eligibility from the U.S. Veteran's Administration.

The advantages of VA Loans include:

• VA mortgages may be approved with no down payment, making them ideal for first-time borrowers.
• The loan amount may be as much as $184,000 with full entitlement.
• The loans are assumable with release of liability to the original owner.
• There are no pre-payment penalties (Eligibility requirements do apply.)