There are several different eligibility requirements you must meet to qualify for a VA Loan. If you are not sure if you will qualify, you should speak with a mortgage broker or a VA Loan Specialist. One of the first steps toward getting a VA Loan is to complete a Certificate of Eligibility.

You may qualify for a VA Loan if you fall into one of the following categories:loan

  • Active-duty Veterans discharged during WWII or later, without the status of "dishonorable"

  • Active-duty Veterans with at least 90 consecutive days of service during major conflict

  • Peacetime Veterans and active-duty personnel with at least 180 days of consecutive service

  • Enlisted Veterans whose service began after 1980, or officers whose service began after 1981, and who have served at least 2 years.

National Guard and selected Reserve members may also qualify. Check your eligibility with a qualified VA Loan Specialist if you have any questions.

What Can I Do with a VA Loan?

You can use your VA Loan to purchase a house, condominium, or townhouse. You can also build a home, make energy-efficient home improvements, or refinance your mortgage.

Why Would I Want A VA Loan?

There are several reasons why a VA Loan may be preferable to a standard loan. Most importantly, if you qualify, you may obtain a VA Loan even if you did not qualify for other loans. There may be no down payment required for a VA Loan, depending on the lender. VA Loans often have lower interest rates than conventional loans, and many times you can negotiate the interest rate with the lender. There are no mortgage insurance premiums on VA Loans, and assumable mortgages are permitted. Closing costs ARE lower than other forms of "Civilain" financing, and there is no penalty for prepaying your mortgage. In addition, VA assistance due to temporary financial difficulty is available to those who qualify.

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