Military personnel during and after their service are eligible for a VA home loan. Qualified service members who have received a discharge other than dishonorable from the U.S. Army, Navy, Air Force, Marines, Coast Guard, National Guard and Reserve, and U.S. Military academies are qualified for this type of loan. Partly guaranteed by the U.S. Department of Veterans Affairs, VA home loans offer several advantages including no down payment, no private mortgage insurance, higher loan value, limit on closing costs, option for seller to pay closing costs, no penalty fee for early payoffs, and possible VA assistance in the event of economic hardship or difficulty making payments. VA loans are mortgages that are insured by the Veterans Administration and are available to active duty, veterans, and their spouses. Once certified for a VA home loan, applicants can apply to use the guaranty on financing and refinancing opportunities which may include purchasing or building a residence, condominium, duplex, or home/lot; improving a residence, refinancing an existing home loan, and/or installing energy improvements. In an effort to give back to our Veterans, PrimeLending has recently waived all lenders fees for VA loans in TX, AZ & NM to help with closing costs.