VA HOME LOANS

If you served in the military,Uncle Sam can help you buy a homewith no money down, via a loan fromthe US Department of Veterans Affairs(VA; 800-827-1000; www.homeloans.va.gov). A VA loan not onlyrequires no down payment, but alsocaps interest rates—and a lendercan't add more than 1 point to yourclosing costs. How much you canborrow, however, is limited to thevalue of the home as determined by aVA or Federal Housing Associationappraisal. If the seller wants morethan the appraised value, you mustcome up with the difference, either incash or through a secondary loan.The VA loan program is administeredby the home loan guaranteeservices of the Veterans BenefitsAdministration.