When you decide to use a VA Loan, you may be excited about the prospect of buying a home without having to pay a huge down payment. In fact, the VA Loan does not require a down payment at all. This means that you can buy a home without paying anything out of pocket. Closing…

When buying a home with the VA Loan, determining your eligibility is one of the first steps that you will take. You need to obtain your Certificate of Eligibility (COE) from the Department of Veterans Affairs and provide it to your lender. Some lenders are able to do this on your behalf. After that, the…

Yes! The main benefit of the VA Loan is that you can purchase a home without any down payment. That means that you can buy a home without paying anything out of pocket. It is also known as a “0% down” loan. Other low down payment options include the FHA Loan, which can be approved…

The VA Loan can only be used within the United States or its territories. Unfortunately, it cannot be used to buy a home overseas. For many service members stationed overseas, this means that they cannot use their VA Loan to purchase a home at their current duty station. You can still use your VA Loan…

The VA Loan was first developed after World War II to make home ownership more accessible to the military service members returning from war. They had not had years to build up a cash reserves to use as a down payment. So the Department of Veterans Affairs eliminated the requirement for a down payment for…

With few exceptions, civilians are not eligible to use the VA Loan. The VA Loan is designed to be a benefit that military personnel earn while on active duty. It can also be used by military Reservists and National Guard members who meet the time in service requirements. Veterans who are separated or retired from…

If you dream of fixing up your own home, you may think that it isn’t possible with the VA Loan. After all, the Department of Veterans Affairs has a minimum habitability requirement that includes things like running water and flooring. If you have your heart set on a home that needs a lot of work,…

If you have your eye on a piece of property and want to build the home of your dreams, you may be wondering if you can use your VA Loan benefit to buy either the property or pay for construction of the home. The answer is yes, as long as you do them together. You…

You may have heard of the VA Loan as a “zero money down” loan. Some people hear this and think that the VA Loan is free money that they can use to purchase a home. While there are many benefits to using the VA Loan, free money is not one of them. When it comes…

There are many home loan types out there: VA, conventional, USDA, and FHA. What is the difference? Is the VA Loan a type of conventional mortgage?   The Conventional Mortgage No, the VA Loan is different from a conventional mortgage. Anyone can apply for a conventional mortgage. Typically, the lender will require that you put…

When people first start shopping around for a home, there are a lot of questions about what type of mortgage is best for their situation. Most people plan for a conventional loan, which requires 20% down and can be used on just about any home purchase. Veterans, active duty military service members, military Reservists, National…

Qualifying for a loan and being eligible for the VA Loan are two different things. If you want to use your VA Loan entitlement, you will need to provide and get documentation. But the process for each is different even though they occur at the same time. First, we’ll look at what it takes to…

The VA Loan allows Veterans, service members, military Reservists, National Guard members, and some military spouses to purchase a home without a down payment. This 0% down payment home loan is a huge benefit available to those who are eligible.   VA Loan Limits There are limits to the amount of money that the VA…

Using your VA Loan benefit is something that many service members and Veterans do when purchasing a home. In addition to being a guaranteed loan backed by the Department of Veterans Affairs for the lender, what are the benefits for the home buyer?   Understanding the VA Loan Benefits The main benefit is that you…

​​The VA Loan is a great benefit for military members, Veterans, military Reservists, National Guard members, and some spouses. It is backed by the Department of Veterans Affairs and allows those eligible to purchase a home without requiring a down payment. This means that people who are entitled to the VA Loan benefit can buy…

The VA Loan benefit is available for active duty military members, Veterans, military Reservists, and National Guard members who served for the minimum required time to be eligible. This varies based on when they served but is typically between 90 days and 24 months. Those who were discharged due to a service-connected disability do not…

When using the VA Loan, borrowers are not required to put any money down as a down payment. This means that the loan covers 100% of the cost of the home, including any closing costs or fees that you are required to pay. If you opt for a VA Rehab Loan, you can even roll…

Just like in any loan application process, there is a chance that your VA Loan will not get approved. There are a few factors that can impact this, including your financial situation and the home that you intend to purchase.   Your Finances You will need to qualify for your loan amount, whether you use…

To use your VA Loan eligibility, you will need to provide paperwork to the Department of Veterans Affairs as well as your lender. The Department of Veterans Affairs is in charge of administering the VA Loan program and determining who is eligible to use this benefit. To use the VA Loan, you need to have…

Yes, you will need to pay back your VA Loan. Just like any home mortgage, you will need to make monthly payments to your lender. These include principal, interest, taxes, and insurance. The principal amount goes toward the outstanding balance of the loan. The interest is calculated based on the term of the loan, often…

The VA Loan is a mortgage backed by the Department of Veterans Affairs. While a conventional mortgage goes directly through the lender, who approves you based on income, credit, and other factors, the VA Loan has added protection for the lender. If you were to default on the loan, the Department of Veterans Affairs would…

The VA Loan is backed by the Department of Veterans Affairs and available for military service members, Veterans, Reservists, National Guard members, and spouses under some circumstances. It originated as part of the Post-World War II GI Bill along with tuition for higher education and other benefits. Now, other benefits have moved to the Post-9/11…

If you are a Veteran or military service member looking to buy a home, chances are that you have considered using a loan backed by the Department of Veterans Affairs. The loans, known as VA Loans, allow you to buy a home without a down payment without the need to pay Private Mortgage Insurance.  When…

You will apply for a loan through your lender completing all of the standard mortgage application paperwork. During this process, make sure to let them know that you intend to use your VA Loan entitlement. They can help you from start to finish in most cases. The main thing that you need to show is…

You can only have one active VA Loan at one time in most cases. In order to use your VA Loan, you must satisfy the eligibility requirements and have a Certificate of Eligibility (COE) issued from the Department of Veterans Affairs. If you have already used your VA Loan, you may be able to get…

Yes, you can use your VA Loan while serving on active duty as long as you have meet the minimum service time requirements for eligibility. Many service members use their VA Loan when they get stationed in a place where they want to stay or return to after their military service is over. To use…

The Army National Guard is a part of the Army that steps in to help with domestic emergency situations. Whether it is crowd control during riots or assisting emergency responders during a natural disaster, the National Guard play a vital role in keeping citizens protected at home. Members of the National Guard can be eligible…

The Army, Navy, Air Force, and Marine Corps all have Reserve options that allow you to serve in the military while still maintaining your full-time civilian career. While you may still deploy and participate in longer training exercises occasionally, the time commitment is much less in the Reserves than in active duty. The Reserves are…

VA Loans, backed by the Department of Veterans Affairs and providing a path to homeownership that does not require a large down payment, are open to military service members and Veterans. They began as part of the original post-World War II GI bill but are now governed by the VA as a separate benefit from…

The VA Loan, backed by the Department of Veterans Affairs, is a great benefit that active duty service members and Veterans can use to help with the purchase of a home. Military retirees are eligible to use the VA Loan and in most cases, satisfy all of the requirements for eligibility. In order to use…

The VA Loan is backed by the Department of Veterans Affairs and helps servicemembers, Veterans, and family members in certain circumstances purchase a home without a down payment. Most Veterans are eligible to use the VA Loan. There are some time-in-service requirements, which vary depending on when you served. Your type of discharge also impacts…

The VA Loan allows military members and those who served in the military to purchase a home without the requirement for a down payment. Typically, a lower down payment adds the requirement for Private Mortgage Insurance, which can be costly. But the VA Loan does not include this extra cost. While the VA Loan does…

The VA Loan is a mortgage option available to military service members, Veterans, retirees, and some family members. It allows them to purchase a home without a down payment while still getting a great rate and approval based on their credit. There are a few restrictions on the type of home that you can purchase…

The VA loan is designed to allow military servicemembers to purchase a home without having to save up a sizable downpayment. It originated following World War II, when so many servicemembers were returning from war without the equivalent opportunities that those who did not go to war had. Millions who had been drafted, as well…

If you are a Veteran, there are a few perks that you get when buying a home thanks to your service. One of those is the VA Loan. VA stands for Veterans’ Affairs. This is the office that guarantees the loan and makes it available for Veterans, some National Guard members, and some families. The…