Eligibility requirements for VA home loan programs

Article Title: Eligibility requirements for VA home loan programs

Article Excerpt: "...Learn about VA home loan eligibility requirements for a VA direct or VA-backed loan. Find out how to request a Certificate of Eligibility (COE) to show your lender that you qualify based on your service history and duty status. Keep in mind that for a VA-backed home loan, you’ll also need to meet your lender’s credit and income loan requirements to receive financing. Can I get a Certificate of Eligibility for a VA direct or VA-backed home loan? You may be able to get a COE if you didn’t receive a dishonorable discharge and you meet the minimum active-duty service requirement based on when you served. ..."

Reference Source: va.gov

VA Home Loans

Article Title: VA Home Loans

Article Excerpt: "...VA helps Veterans, Servicemembers, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy. VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. ..."

Reference Source: www.benefits.va.gov

VA Home Loans | www.benefits.va.gov

Article Title: VA Home Loans

Article Excerpt: "VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.

Before you buy, be sure to read the VA Home Loan Buyer's Guide. This guide can help you under the homebuying process and how to make the most of your VA loan benefit. Download the Buyer's Guide here. PDF

VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.

Main pillars of the VA home loan benefit:
No downpayment required (*Note: Lenders may require downpayments for some borrowers using the VA home loan guaranty, but VA does not require a downpayment)
Competitively low interest rates
Limited closing costs
No need for Private Mortgage Insurance (PMI)
The VA home loan is a lifetime benefit: you can use the guaranty multiple times


External Link Disclaimer: This page contains links that will take you outside of the Department of Veterans Affairs website. VA does not endorse and is not responsible for the content of the linked websites. ..."

Reference Source: www.benefits.va.gov