The ability to buy a home without a down payment is one of the best
things about the VA mortgage program.
No down payment means a borrower
can save the money that would otherwise be used to make that down
payment, or use the money to pay VA loan fees or other expenses.
Zero
money down is definitely helpful for a new military member who doesn’t
have the benefit of time in service raises or promotion pay.
But
not every single VA loan is a no money down transaction--did you know
that in certain cases the lender may require a down payment? Why would
the bank require the borrower to put money down?
http://www.refinanceloanrate.com/veterans/item/563-va-loan-down-payments-are-they-required.html
