Similar to a USDA or FHA loan, a VA loan is a mortgage loan secured by the Department of Veterans Affairs, designed to encourage lenders to loan to those in service.

To qualify, you must be an active or retired member of the military, reservists, or National Guard.

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If you’re looking to make your home in the country, and can meet the basic income requirements, then a USDA-backed home loan may be a good option.

Loans backed by the USDA don’t require a down payment, but can only be obtained for a primary residence in a qualifying rural area.

Once you know your own situation, start looking at the available options.

You may only qualify for a few of them, making the decision an easier one.

If you have multiple options available, compare loan types by affordability, including associated fees and down payment requirements.

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