VA Home Loan
The Ultimate Home Financing Benefit for Veterans
What Is a VA Home Loan?
Who Is Eligible for a VA Loan?
You may qualify for a VA home loan if you meet one of the following service requirements:
Active-Duty & Veterans
✔ Served 90+ days during wartime
✔ Served 181+ days during peacetime
✔ Served 24+ months (if enlisted after 1980)
✔ Were honorably discharged
National Guard & Reserves
✔ Served at least 6 years in the Selected Reserve or National Guard
Spouses of Service Members
✔ Unmarried surviving spouse of a veteran who died in service or from a service-related injury
✔ Spouse of a service member who has been POW or MIA for 90+ days
Check with the VA for the most up-to-date eligibility details.
What Can You Buy with a VA Loan?
A VA loan must be used for a primary residence in the U.S. or its territories. You can purchase:
✔ Single-family homes
✔ Townhouses & VA-approved condos
✔ New construction homes
✔ Manufactured homes & lots
✔ Home refinances & select home improvements
What Are the Benefits of a VA Loan?
✔ 100% Financing & No Down Payment – No need to save for a down payment.
✔ No Private Mortgage Insurance (PMI) – Unlike conventional loans, VA loans don’t require PMI, saving you thousands over time.
✔ No Prepayment Penalties – Pay off your loan early with zero extra fees.
✔ Competitive Interest Rates – Lower rates than most conventional loans.
✔ Easier Qualification – More flexible credit and income requirements.
✔ Seller-Paid Closing Costs – Sellers can cover some or all closing costs, reducing out-of-pocket expenses.
✔ Additional Down Payment Assistance – VA loans can be combined with other assistance programs to further reduce costs.
How to Apply for a VA Loan
1️⃣ Apply with a VA-approved lender
2️⃣ Obtain your Certificate of Eligibility (COE) from the VA
3️⃣ Provide proof of military service
Need help? Our team can guide you through the process!
Can I Use a VA Loan More Than Once?
Yes! Your VA loan benefits are reusable if:
✔ You have paid off your previous VA loan and sold the property.
✔ You still own the home but are using a one-time eligibility restoration.
To restore eligibility, submit VA Form 26-1880 with proof of prior loan payoff.
Are There Any Disadvantages to VA Loans?
🔹 VA loans may take longer to process than conventional loans.
🔹 Some sellers may be hesitant to work with VA buyers due to seller-paid closing costs.
🔹 VA loans issued before 1988 can be assumed by a new buyer, which could put the original homeowner at financial risk if the buyer defaults.
Despite these minor drawbacks, VA loans remain one of the best mortgage options for military families.
