VA Home Loan Requirements

The VA Loan is a fantastic benefit for veterans and active duty military looking to buy a home. The last No-Money down Loan left on the mortgage market, there are several other advantages to putting your VA Loan Entitlement to use today!

Eligibility

Chances are, if you were honorably discharged or you are still on active duty, you are eligible for a VA Loan. Reservists also qualify with six years of service or 90 days or more deployed to a combat zone. Spouses of deceased veterans can also qualify.

Loan Limits

Part of what makes the VA Loan so attractive now is that the loan limits are higher. While it varies from county-to-county, the maximum for most counties is $417,000. However, if you live in a high-cost county like Prince William in Virginia or Marin in California for example, your VA loan limit is $1 million.

Getting Qualified

Credit is important for any loan qualification, however the VA is bit more relaxed with its credit score requirements, so that those with good but not great credit can still get a good loan with a low interest rate. Your most recent 12 month credit history will be reviewed to ensure few to no late payments. The VA is dedicated to protecting your credit and has set up guidelines to ensure you are fiscally ready to own a home.

Certificate of Eligibility

A must have for any VA Loan transaction, without it, you cannot move forward. You can send off for your COE by completing VA Form 26-1880, or your lender can help you obtain it. While there is plenty to know about the VA Loan, there is also a lot of information from less than reliable VA Loan sources. In addition to the official VA Government web site, there are other highly credible VA sites listed below to help you become a better informed VA Loan consumer.

VA Gov Web Site
Highly Credible VA lender web site
VA Calculator

Contact Me

This website is published by Kevin Kaiser. If you'd like to contact me about the content or if you have a question about VA Loans, please email me here.