FAQs (data-driven)
VA Mortgages
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What is a VA mortgage?
A mortgage that is backed by the U.S. Department of Veterans Affairs (VA). Eligibility is based on minimum service requirements for veterans, active-duty service members, National Guard members, and reserve members.
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Who is eligible for a VA loan?
Minimum service requirements are applied for eligibility regarding veterans, active-duty service members, National Guard members, and reserve members. Surviving spouses may be eligible, based on minimum service requirements. Requesting a Certificate of Eligibility (COE) can confirm your eligibility for a VA loan. For questions, reach out to us at 801-786-8400 or visit a branch near you.
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Is a down payment required for a VA loan?
No, a down payment is not required for a VA loan. Additional fees may apply.
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Are there additional fees for a VA loan?
Additional fees include the VA funding fee. The funding fee is applied to the total mortgage loan balance. To continue offering VA loans, the required fee results in continued funding of the program.
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What is a VA appraisal?
A VA appraisal is similar to standard appraisals to determine the market value of the property. There are additional minimum requirements for a VA mortgage loan.
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What are the benefits of a VA loan?
Benefits include: - Reduced fixed rates - No down payment required - No private mortgage insurance - Insured by the VA
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Where can I apply for a VA loan?
Applying can by easy. Apply online, call us at 801-786-8400, or visit a branch near you. Let us help navigate your important financial milestones.