 TITLE: What Is a VA Loan? CONTENT: VA Loan vs. Conventional Loan\n-----------------------------\nVeterans Affairs backing, along with lending requirements stipulated by the VA, make VA loans significantly more affordable than comparable conventional mortgage loans.\nIf you're not sure whether you'd get a better deal with a VA loan than you would with a conventional loan, check out these differences between the two:\n*   **You can get a VA loan with a zero down payment.** Conventional mortgages typically require cash down payments of at least 10%.\n*   **You won't have to pay private mortgage insurance (PMI) with a VA loan.** On conventional mortgages with down payments of less than 20%, lenders require purchasers to buy PMI to cover their losses in case of default on the loan.\n*   **VA loans typically come with lower interest rates.** Lenders usually charge higher rates on conventional mortgages than on VA loans.\n*   **You're more likely to qualify for a VA loan with lower credit scores.** Lenders typically have less restrictive credit requirements for VA loans than they do for conventional mortgages.\n*   **You can use your VA entitlement more than once.** If you pay off your first VA home loan, you can apply for another, as long as you're using it for your primary home. END