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VA Loans

The VA has guaranteed more than 28 million loans since 1944, when the home loan program began as part of the original GI Bill of Rights. VA loans work much like any other home loan but come with significant benefits meant to make homeownership easier and more affordable for Veterans and service members.

VA loans can be used to purchase a home, refinance a home to lower the interest rate and/or monthly payment, or to take equity out of the home.

VA Loan Benefits

  • 0% Down Payment
  • Lower Interest Rates
  • Flexible Credit Guidelines
  • Closing Cost Limits
  • No Private Mortgage Insurance

VA Loan Eligibility

Veterans and service members must meet basic time-in-service and character of service requirements to be eligible for a VA home loan. Some surviving spouses also have VA loan eligibility.

Active duty service members, Veterans and those serving in the National Guard and Reserves can all be eligible, along with select other groups.

Generally, you can be eligible for a VA loan if you served:

  • 90 consecutive days on active duty (wartime)
  • 181 consecutive days on active duty (peacetime)
  • 6 years in the Guard or Reserve, or 90 days under Title 32 orders (at least 30 of those days must be served consecutively)