VA Home Loans

Opening Doors for Military Homeowners

Every American family wants to own a home of their own. More than 25.5 million qualified veterans and active duty military can achieve it more easily, with a VA home loan. For qualified military, a VA Loan can mean zero downpayment, favorable loan terms, lower mortgage interest rates and a whole lot more.

ARE YOU ELIGIBLE?

If you've served on active military duty with an honorable discharge for a minimum of 90 days during wartime, or a minimum of 181 continuous days of military service during peacetime, or you have served in the National Guard or Reserves for a minimum of six years, you may be eligible for all the benefits of a VA Home Loan. If you're a veteran, VA Loan eligibility requires two years of service if you began your military service after September 7, 1980, or, as an officer, if you began your military service after October 16, 1981.

Thanks to the Veterans Administration's GI Bill, veterans and active duty military have the keys to homeownership: today's VA Home Loan program.

VA LOAN TYPES

Despite a sharp downturn in the housing market, statistics show that more military servicemembers and veterans are using their VA Home Loan benefit. The Veterans Administration attributes this increase to favorable terms and the disappearance of no-downpayment conventional mortgages that were once readily available.

VA LOAN PROGRAMS

When it comes to choosing the terms of your VA Home Loan, compare the benefits and advantages of all the options: VA Fixed Rate Mortgage, adjustable rate VA ARM or Hybrid ARM, and VA JUMBO mortgages.

VA LOAN GUIDELINES

Before you sign on the dotted line of your VA home loan mortgage contract, the VA wants to be sure you're fully apprised of all the financial responsibilities of home ownership. If this is your first home purchase, there may be elements of that responsibility you're not familiar with.

VA LOAN CHECKLIST

Both lenders and veterans are finding VA Home Loan approval to be increasingly user-friendly. Information technology has streamlined the VA Home Loan process. VA lenders have authority to process and approve veterans' loan applications.