VA loans obviously require current or prior military experience and an honorable discharge. This product allows for the seller to pay most closing costs for the buyer. Most of our VA purchase loans end up with the buyer having little money into the deal and that is about it.
These loans do not require monthly mortgage insurance, and the rates are excellent. VA rates are typically as good as, if not better than, most conventional rates since the lender has a guarantee in place from the government that the loan will perform.
If you already have a VA loan, consider the VA Streamline refinance loan. More about it here.
For additional information, please visit the United States Department of Veteran Affairs Home Loan Page at http://www.benefits.va.gov/homeloans/.