Options that make getting a mortgage easier, from a name you trust
If you need a lower down payment or have less than perfect credit, a VA loan may be right for you. Whether you're buying your first home or looking to refinance, VA loans may have more flexible guidelines than traditional loans.
You can use a VA loan to buy or refinance a home or condominium, as long as it's your primary residence. VA loans may require a one-time funding fee at closing.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by TIAA-CREF Trust Company, FSB. Products may not be available in all states. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
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It's a loan program exclusively for eligible Service members, Veterans and their surviving spouses. Please refer to your Certificate of Eligibility (COE) to determine your personal entitlement. You are not required to make a down payment as long as you have enough entitlement and the loan is not over the county limit. Additionally, you may not be required to pay private mortgage insurance.
In general, you must have been discharged under conditions other than dishonorable and meet certain service requirements. A good way to see if you're eligible is to visit the U.S. Department of Veterans Affairs web site.
It's a one-time fee that you pay to the Department of Veterans Affairs at closing. The VA funding fee ranges from .5% to 3.3% of the amount you borrow. It can be financed with your loan and included with your monthly payment.
The “Know Before You Owe” or TILA RESPA Integrated Disclosure (TRID) rule from the Consumer Financial Protection Bureau (CFPB), changes the way real estate transactions are processed and closed. By understanding what is expected from you, you can help speed the process.