VA Loans

What is a VA Loan?

A VA home loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). It offers affordable home financing to eligible American veterans or their surviving spouses.

Benefits of VA Loan:

  • $0 Down Payment*

  • No Private Mortgage Insurance (PMI)

  • No Prepayment Penalties

  • Flexible Credit and Income Requirements

  • Interest Rate Reduction Refinance Loan (IRRRL)

    *A down payment is required if the borrower does not have full VA entitlement.

Who qualifies?

To be eligible for a VA loan, you or your spouse must meet the minimum service requirements set by the VA, have a valid Certificate of Eligibility and satisfy the credit and income requirements.

Requirements:

  • Served 90 consecutive days of active service during wartime

  • Served 181 days of active service during peacetime

  • 6 years of service in the National Guard or Reserves, or served 90 days (at least 30 of them consecutively)

  • Spouse of a service member who died while serving or due to a service-related disability

  • Credit score of 580 or higher

Who can I send questions to?

Getting in touch with a lender knowledgeable in both VA loans and in the market you are looking into is key. Even before initiating a home search, you can ask the lender any questions at any time.

What homes can I buy?

Any single-family house, most townhomes, and some qualifying condos. A realtor with VA knowledge can help you identify which homes are VA-approved even if the home’s listing states otherwise.