VA Mortgage Loans

The VA (Veterans Administration) guaranteed home loan is the preferred loan program for active, non-active, Reserve, National Guard, and retired military of the armed forces because there is no down payment needed and no private monthly mortgage insurance required. While most people believe that the VA lends money directly to veterans, it actually just insures the mortgage financed by VA-approved lenders.

Why Are VA Loans So Great?

VA loans are one of the best options available for veterans that would like to purchase a home or refinance their current VA mortgage. The VA program allows veterans to purchase a home with no down payment and 100% financing. In addition to this monthly mortgage insurance is not required which makes the VA program one of the most affordable options available. If a veteran is already in a VA loan they can take advantage of a reduced documentation refinance by using the streamline program to lower their payments.

What Are the Advantages of VA Loans?

What Are the Waiting Periods After a Hardship?

Who is Eligible for a VA Home Loan?

Wartime Veterans who were not dishonorably discharged and served at least 90 days:

Reserves and National Guard

Members who have completed six years of service and have been honorably discharged (or are still serving) may be eligible for a VA loan. Contact your regional VA office for more details.

Peacetime Service

Peacetime service of at least 181 days of continuous active duty with no dishonorable discharge. If you were discharged earlier due to a service-connected disability, you should speak with the regional VA office to verify eligibility.

Other types of service that may make you eligible for a VA loan:

What Are Some Popular VA Programs?

Standard VA Purchase

VA Streamline Refinance

Be sure to take a close look at VA and their programs to find out which one is right for you.