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Who is Eligible for a VA Loan? 

  • Active-duty members of the Air Force, Army, Navy, and Marines
  • Veterans from the Air Force, Army, Navy, and Marines
  • Certain Reservists and National Guard members
  • Surviving spouses of veterans who passed away on active duty or due to service-related disabilities
  • Spouses of active-duty personnel who are:
    • Missing in Action
    • Prisoners of War

How Can I verify My VA Home Loan Benefits (Entitlement)? 

To confirm your VA benefits status, your lender can assist you. Alternatively, you can request a Certificate of Eligibility (COE) online through eBenefits with your premium DS Logon account, Click Here; by calling 1-877-827-3702; or by mailing VA Form 26-1880.

You may also need your DD214 (or the separation papers) if available. Click here to get your military service records online

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What Are The Advantages of VA Loan?

  • Typically, no down payment is required.
  • No private mortgage insurance (PMI) premiums or mortgage insurance premiums (MIP).
  • No loan limit if the Veteran has full entitlement and can meet the lender’s financial guidelines.
  • Potential to hold more than one VA home loan across multiple properties if the Veteran borrower has ample entitlement, financially qualifies, occupies the property, and follows all VA home loan guidelines.
  • VA does not require a minimum credit score; however, a lender may set a credit score limit.
  • Competitively low interest rates compared to other loan programs.
  • No VA funding fee for eligible service-connected disabled Veterans and eligible surviving spouses.
  • May be used to purchase an existing home or residential condominium, build a new home, refinance the current home, or purchase a multi-unit residence.

    • Learn More

    Can I Utilize My VA Home Loan Benefits More Than Once?  

    Absolutely! A common misconception is that VA loans are a one-time benefit. You can qualify for multiple VA loans and restore your VA entitlement. To do so, you must meet VA requirements through one of the following methods:

    • Selling the home purchased with a VA loan and paying off the VA loan in full,

    OR

    • Allowing another qualified veteran to assume payment on your loan, using their VA entitlement to replace the original loan amount,

    OR

    • Fully repaying the previous VA loan without selling the home bought with that VA loan (this is a one-time option only).

    Source: Deemed reliable but not guaranteed. VA Buyers Guide

    View the VA Buyers Guide

    What Type Of VA Loans Are Offered?

  • A standard VA loan provides up to 100% financing when required. There is no monthly mortgage insurance or private mortgage insurance needed. In some cases, a higher down payment may be necessary to qualify for many VA loans.
  • Condominiums must meet VA financing standards. Contacting the VA for more details is recommended.

    •

    What Type of Properties Are Eligible For A VA Loan?

    Buyers can use VA home loans to purchase a property to serve as their residence. Eligible property types include:

    Detached single-family home or townhome
  • Residential income property (duplex, triplex, fourplex – If the borrower will live in one unit and rent the others)
  • Condominium (requires pre-approval or a waiver)
  • Manufactured home
  • Proposed or under construction (closing upon completion of home)

    • We can work together to best decide on the price of your home to sell and are confident that we can find the right buyer for your home.

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