VA Home Loans

The VA loan program was designed to help American veterans or their surviving spouses and active duty military service members to obtain long term financing and purchase homes that may otherwise have been out of their reach.

Qualifying for a VA loan is similar to other loans but no down payment is required and there is no mortgage insurance. The veteran must meet active duty and min. service requirements and provide either a copy of their discharge papers (DD214) or in the case of active duty military, a letter of current service from their commanding officer. The veteran must also provide a copy of their Certificate of Eligibility, to use the VA Home Loan benefit.

One often misunderstood fact is that veterans may obtain a VA home loan even if they have used the VA Home Loan benefit previously and there is no limit to the number of times you may use your VA Home Loan benefit. VA does only allow the veteran to have more than one VA loan at a time and they must occupy the property as their primary residence. Veterans discharged because of medical conditions and spouses of deceased veterans, service members missing in action, or prisoners of war are also eligible to use the VA Home Loan benefit.

VA home loan benefit does require the property being purchased to meet minimum health and safety standards. The Veterans administration also has a list of VA certified appraisers and they will assign one off the list to examine the property and establish the current market value of the home. Keep in mind that an appraiser is not a contractor or home inspector and therefore the veteran should consider hiring someone to inspect the property for deficiencies.

Get Started With Your VA Home Loan Today!