This Veterans Day, we give thanks to the outstanding men and women of the American Armed Forces, who dedicate their lives to the protection of our families, careers, homes, health, and happiness at home.

One way we pay them back is ensuring their access to home lending services. Home loans from the federal Department of Veterans Affairs (VA) are available exclusively to veterans, active-duty military and reservists, and their spouses.

Since the VA began the program in 1944, it has backed more than 21 million home loans, Still, many eligible buyers misunderstand its powerful benefits and protections. Even some real estate agents and mortgage lenders make the mistake of assuming a VA loan comes with a lot of red tape.

At Bay Equity Home Loans, we have many loan officers with expertise in VA loans and we are focused on getting military buyers into homes.

In general, VA loans require no down payment, no mortgage insurance, lower interest rates and more lenient credit score requirements.

Bay Equity VA loan originators can advise on the most up-to-date changes, rules, and regulations.

For example, the program now makes “power of attorney” exceptions to allow spouses to conduct transactions for active-duty service members on deployment, helping alleviate the emotional toll of military family moves.

Often as important as purchase loans is the ability to refinance a VA home loan or change an Adjustable-Rate VA Mortgage (ARM) to a fixed rate. The VA Interest Rate Reduction Refinance Loan (IRRRL) is a VA loan to VA loan refinance. It’s a great option for many military members.

Bay Equity salutes and supports our military and donates a part of each closed VA and FHA loan to the Warrior Foundation Freedom Station, a transitional housing community for injured veterans.

The Servicemembers Civil Relief Act (SCRA) provides active-duty military personnel and their families financial protection involving interest rates, income tax payments, eviction, foreclosure, and more.

Your local Armed Forces Legal Assistance office can provide more information on SCRA.