Phone: 
612-990-9009
email:
Steven@StevenHong.com
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Home Buying 101: Department of Veterans Affairs Mortgage

The DVA Mortgage

The DVA mortgage is for US Veterans. It is a mortgage program sponsored by the Department Of Veteran Affairs, hence the name. It provides some unique benefits to Veterans, namely a 0% down mortgage. Also with certain levels of disability, veterans can also waive a portion, or all, of the property taxes.

Pros:

  • 0% downpayment program
  • No set minimum credit score
  • No PMI required

Cons:

  • Maximum loan amount may be too small for some homes in the area
  • Only for Active Duty, or American Veterans, or surviving spouses, or National Guard/Reservist members.
  • Has similar standards to FHA on work orders
Steven Hong - RE/MAX Results 
REALTOR, e-PRO, GREEN, Old Home Certified 
7700 France Ave S #230, Edina, MN, 55435 
612-990-9009 (cell) 
952-915-2252 (office)
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