VA loans are guaranteed by Veterans Administration.

Eligibility Criteria to Qualify for VA Loans:

Eligibility is based on the veteran length and type of military service. Generally speaking, VA determines that veterans who fulfill the criteria below are eligible for the VA home loan benefit:

  • Veterans with two years of continuous active-duty and an honorable discharge
  • Veterans with six years of service in the Selected Reserves or National Guard and an honorable discharge
  • Veterans with 90 days active-duty wartime service and an honorable discharge
  • Veterans with 181 days of continuous active-duty during peacetimes listed here and an honorable discharge: July 26, 1947 June 26, 1950, February 1, 1955 August 4, 1964, May 8, 1975 August 1, 1990

Un-remarried surviving spouse of a veteran

  • Eligibility determined by Veterans Administration (VA)
  • Veteran must have been totally disabled at the time of death or died on active-duty or as a result of service-connected injuries or illness – VA determines cause of veteran death
  • For Interest Rate Reduction Refinance Loans (IRRRL), the Certificate of Eligibility must be in the deceased veteran name and social security number
  • For purchase and cash-out transactions, the Certificate of Eligibility must be in the surviving spouse name

Get a live rate quote for a VA Loan

Loan Programs Available
Fixed Rate mortgages and 3/1, 5/1 Adjustable Rate Mortgages (ARMs) are available

Loan-to-Value (LTV) Ratio Allowed
For a home purchase loan, up to 100% financing is available. What more – there are no monthly mortgage insurance required. A one-time funding fees of up to 3.30% can be added to the loan amount.

You may also like to read – Complete guide to qualifying for VA Home Purchase Loans

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