The Best Mortgage Deals Around

It's tough to get a mortgage today. But that's not news. Every financial institution is tightening lending standards, requiring a higher down payment and raising interest rates. Well, almost every lender is doing that.

If you're a veteran who has been honorably discharged from the military, you can get a great deal on a home loan.

The Veterans Administration (VA) has a mortgage guarantee program that is available to the more than 23.8 million U.S. veterans who were honorably discharged from service. But fewer than 2.1 million have taken advantage of VA loans. And they're missing out on a very good deal.

With a VA loan, veterans can get 100% financing without private mortgage insurance (PMI) and a 30-year fixed rate of 6.5%. There is a small origination fee paid to the VA, typically 2.4%, which is rolled into the mortgage itself. ...