A VA approved lender; Mortgage Research Center, LLC – NMLS #1907. Not affiliated with any government agency. Not available in AZ, NV, or NY.

Do you qualify for a VA home loan? These veteran benefits in the GI Bill of Rights provide veterans with a federally guaranteed mortgage with no down payment. VA home loans are made by private lenders, such as banks, savings & loans, or mortgage companies.

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NMLS #1907 | Equal Housing Lender | VA Approved Lender; Not a government agency
Not available in AZ, NV, or NY

What is a VA Loan?

VA Loan Guidelines

The VA Loan became known in 1944 through the original Servicemen's Readjustment Act also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to provide housing and assistance for veterans and their families, and the dream of home ownership became a reality for millions of veterans. The GI Bill contributed more than any other program in history to the welfare of veterans and their families, and to the growth of the nation's economy.

With more than 25.5 million veterans and service personnel eligible for VA financing, this loan is attractive and has many advantages. Eligibility for the VA loan is defined as Veterans who served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum of 181 continuous days during peacetime. There is a two-year requirement if the veteran enlisted and began service after September 7, 1980 or was an officer and began service after October 16, 1981. There is a six-year requirement for National guards and reservists with certain criteria and there are specific rules concerning the eligibility of surviving spouses.

VA will guarantee a maximum of 25 percent of a home loan amount up to $104,250, which limits the maximum loan amount to $417,000. Generally, the reasonable value of the property or the purchase price, whichever is less, plus the funding fee may be borrowed. All veterans must qualify, for they are not automatically eligible for the program.

VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fails to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms.


Read About Veteran Mortgage News, Updates, and Guidelines
--> VA Loan Rules for Homes With Lead Paint - VALoans.com

VA rules for lead paint are specific and clear--the property to be purchased with a VA insured loan must meet the criteria listed before it will be approved.

--> Do VA Loans Require An Escrow Account? - VALoans.com

VA loans have a variety of requirements, set by both the VA and lenders. Learn what rules are in place concerning escrow accounts and VA loans.

--> VA Loans for National Guard and Reserve Members - VALoans.com

Members of the National Guard or Reserves are not immediately eligible for a VA loan, but they become eligible once they meet the requirements for time in service.

--> VA Loan Rules for Currently Serving Military Members - VALoans.com

Military members who want to apply for VA home loans should know about the rules for applying within a year of their current re-enlistment or retirement.

--> Proof of Service Requirements for VA Home Loans - VALoans.com

In order to be approved for a VA home loan the VA requires you to provide a signed statement from your unit commander as proof of your service.