VA Home Loans

Wartime/Conflict Veterans

Veterans who were NOT Dishonorably Discharged, and served at least 90 days

World War II – September 16, 1940 to July 25, 1947

Korean Conflict – June 27, 1950 to January 31, 1955

Vietnam Era – August 5, 1964 to May 7, 1975

Persian Gulf War - Check with the Veterans Administration Office

Afghanistan & Iraq – Check with the Veterans Administration Office

Veterans Administration website www.va.gov

Peacetime Service

At least 181 days of continuous active duty with no dishonorable discharge. If you were discharged earlier due to a service-related disability you should contact your Regional VA Office for eligibility verification.

July 26, 1947 to June 26, 1950

February 1, 1955 to August 4, 1964, or May 8, 1975 to September 7, 1980 (Enlisted), or to October 16, 1981 (Officer)

Enlisted Veterans whose service began after September 7, 1980, or officers who service began after October 16, 1981, must have completed 24-months of continuous active duty and been honorably discharged

Reserves and National Guard

Certain U.S. Citizens who served in the Armed Forces of a government allied with the United States during World War II.

Surviving spouse of an eligible Veteran who died resulting from service, and has not remarried.

The spouse of an Armed Forces member who served Active Duty, and was listed as a POW or MIA for more than 90-days.

A VA home loan must be used to finance your personal residence within the United States and its territories. You have choices for the type of home you purchase:

Existing Single-Family Home

Townhouse or Condominium in a VA-Approved Project

New Construction Residence

Manufactured Home or Lot

Home Refinances and Certain Types of Home Improvements

100% Financing & No Down Payment Loans

No Private Mortgage (PMI)

No Penalties for Prepaying the Loan

Competitive Interest Rates

Qualification is Easier than a Conventional Loan

Sellers Pay Some of the Closing Costs

Can be combined with additional down payment assistance to reduce closing costs

You can apply for a VA Loan with any mortgage lender that participates in the program. In addition to the application requirements from your lender, you will need the following at application time:

Certificate of Eligibility from the Veterans Administration by submitting a completed VA Form 26-1880.

Proof of Military Service from a VA Eligibility Center

VA Loans made prior to March 1, 1988 can be assumed with no qualifying of the new buyer. If the buyer defaults the property the Veteran homeowner may be liable for the funds.

Some sellers are hesitant to work with someone obtaining a VA Loan because it takes longer than a conventional loan to process.

Sellers are often asked to pay a portion of closing costs and therefore less likely to negotiate the sales price of the home.