If you are planning to own your home until the entire mortgage is repaid, these may be good loan options for you. 15- and 30-year mortgages for Veterans are especially appealing because the loan can be set at competitive interest rates through your veterans’ benefits.

15- and 30-year mortgages can also be established through VAMortgage.com with no closing costs or down payment. (some restrictions apply)

15-year VA Mortgage Loans

15-year loans repay your entire mortgage amount in 15-years instead of the usual 30-years. While the monthly payment is a little higher, typically the interest rate is slightly lower than it is for a 30-year mortgage. This option could save you thousands of dollars over the life of your loan, depending on the loan amount.

30-year VA Mortgage Loans

Thirty years is the most common length for a mortgage loan. By lengthening the duration of the mortgage, the monthly payment amount for the loan is lower than the payment on a 15-year mortgage.