A VA home loan is a Veteran loan provided by an approved lender and it is guaranteed by the U.S. Department of Veterans Affairs (VA). This guarantee means we’re able to offer qualified veterans more favorable terms on a home loan or mortgage refinance. You don’t need to be a first-time homebuyer, and you can reuse the benefit.
The VA offers a few home purchase and mortgage refinance loan programs depending on your needs. In general, these programs can help you qualify for a veteran loan with a competitive interest rate and often without requiring a down payment (as long as the sales price doesn’t exceed the appraised value) or private mortgage insurance. The VA also offers programs that let you refinance an existing VA home loan or take cash out of your home’s equity.
STATUS | QUALIFYING WARTIME & PEACETIME PERIODS | QUALIFYING ACTIVE DUTY DATES | MINIMUM ACTIVE DUTY SERVICE REQUIREMENT |
---|---|---|---|
Veteran | WWII | 9/16/1940 – 7/25/1947 | 90 total days |
Veteran | Post-WWII | 7/26/1947 – 6/26/1950 | 181 continuous days |
Veteran | Korean War | 6/27/1950 – 1/31/1955 | 90 total days |
Veteran | Post-Korean War | 2/1/1955 – 8/4/1964 | 181 consecutive days |
Veteran | Vietnam War | 8/5/1964 – 5/7/1975 For Veterans who served in the Republic of Vietnam, the beginning date is 2/28/1961. | 90 total days |
Veteran | Post-Vietnam War | 5/8/1975 – 9/7/1980 The ending date for officers is 10/16/1981. | 181 continuous days |
Veteran | 24-month rule | 9/8/1980 – 8/1/1990 The beginning date for officers is 10/17/1981. | – 24 continuous months OR – the full period (at least 181 days) for which you were called or ordered to active duty |
Veteran | Gulf War | 8/2/1990 – Present | – 24 continuous months OR – the full period (at least 90 days) for which you were called or ordered to active duty |
Currently On Active Duty | Any | Any | 90 continuous days |
National Guard and Reserve Member | Gulf War | 8/2/1990 – Present | 90 days of active service |
Here are three simple steps to apply for a veteran home loan:
Beau has helped Active Military Personnel, Veterans, and other eligible groups make sense of VA loans, guide them through the process, and ultimately match them with the best mortgage option. My commitment to the Military extends to helping take the guesswork out of VA home loans and making obtaining one a straightforward and painless process.
Let's schedule a meeting! During this initial consultation, we'll learn more about your situation and what you're seeking in a home. We'll provide advice and address any concerns you may have in order to determine the best approach to achieving your goals. By the end of our conversation, we'll have a solid plan of action and next steps for moving forward.
All information provided is deemed reliable but is not guaranteed and should be independently verified. This website and its affiliates make no representation, warranty or guarantee as to accuracy of any information contained on this website. You should consult your advisors for an independent verification of any properties or legal advice.
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