What are VA Loans?
The VA helps Veterans, Servicemembers, and eligible surviving spouses become homeowners. As part of its mission to serve you, the VA provides a home loan guarantee benefit and other housing-related programs. The VA helps veterans to buy, build, repair, retain, or adapt a home.
VA Home Loans are provided by private lenders, such as banks and mortgage companies. The VA guarantees a portion of the loan, enabling the lender to provide veterans with more favorable terms.
Eligibility Requirements
The length of service or service commitment, duty status, and character of service determine eligibility for specific home loan benefits. Please Note: Eligibility now includes National Guard members with at least 90 days of active service including at least 30 consecutive days under Title 32, Sections 316, 502, 503, 504, or 505.Calculate Mortgage Payments
VA-guaranteed loans are available for homes for veterans, their spouses, and their dependents (for active duty service members). To be eligible, you must have satisfactory credit, sufficient income to meet the expected monthly obligations, and a valid Certificate of Eligibility (COE).
The IRRRL is a “VA to VA” loan, meaning it can only be done if you have an existing VA guaranteed loan on the property. In general, the IRRRL is generally performed to lower interest and reduce monthly payments on existing VA guaranteed loans.
The NADL program is specific to Native American Veterans. The NADL loan helps veterans to purchase, construct, improve, or re-finance a home on Native American trust lands. Also, the tribal organization must participate in the VA direct loan program. You must have a valid Certificate of Eligibility (COE).
VA helps Veterans with certain total and permanent disabilities related to their military service obtain suitable housing with either a Specially Adapted Housing (SAH) or Special Housing Adaptation (SHA) grant.