As the unofficial start of the summer season kicks off with the celebrations surrounding Memorial Day weekend, Bay Equity Home Loans pauses to remember those members of the Armed Forces who gave their lives in the service of this great nation.

We also salute our current and retired military veterans. None of the things we enjoy as Americans – our families, careers, homes, employees, health or happiness, would be possible without their unwavering dedication. Thank you!

If you are a veteran, you may qualify for another benefit: Home loans insured by the federal Department of Veterans Affairs (VA).

Besides veterans and active-duty service members, VA loans are also available to National Guardsmen and reservists, as well as select military spouses. VA loans are available with as little as $0 down.

Here’s some more great news: In 2023, the VA reduced its initial funding fee in 2023, potentially creating savings for many military homebuyers!

For eligible VA borrowers with a zero-down loan, the upfront charge has been reduced from 2.3% down to 2.15%. On a $200,000 mortgage, that’s a savings of $300. Some veterans still qualify for a waiver of the entire fee.

Veterans may also consider “Giving to Heroes,” Bay Equity’s exclusive credit-back loan program for active or retired military members and other service-focused professionals. Available credits include a Lender Credit of 0.25% of the Loan amount, and if using an affiliated real estate agent, an additional Agent Credit from their earned commission.

If you're an active or retired service member or reservist looking for home financing, contact Bay Equity to explore your options.

The VA has backed more than 21 million home loans since the program began in 1944. In general, VA loans require no down payment, no mortgage insurance, lower interest rates and more lenient credit score requirements.

Bay Equity Home Loans supports former and current women and men in military service at home and abroad, whether in times of crisis or times of calm. Bay Equity donates a portion of each closed VA and FHA loan to the Warrior Foundation Freedom Station, a transitional housing community for injured veterans.