Home Buying Benefits using a VA Home Loan

Veterans, service members and families who qualify for a VA Home Loan have one of the best home loan programs available. Since it inception in 1944 the Department of Veteran Affairs has backed more than 21 million home loan for veterans, active-duty military members and spouses. This program has made buying a home more accessible to those who have served our Nation. VA home loans feature benefits to help make buying a home possible. A few of the benefits of a VA Home Loan

* No down payment required

* No mortgage insurance

* Lower than interest rates

* Limits on closing costs

VA Home Loan Eligibility 

Unfortunately many Veterans and their families are unaware of the benefits of a VA home loan. Typically veterans and active-duty service members are eligible for the VA home loan if they served in the following capacity.  

* Served 90 consecutive days active duty during wartime

* Served 181 consecutive days on active duty during peacetime

* Served 6 or more years in the National Guard or Reserves

* Some spouse's of military members who died in the line of duty or of service-related disability

For more information about your eligibility talk to a VA lender about obtaining a Certificate of Eligibility