VA Home Mortgage Loans

Minimum Requirements:

For Service Members: If you’ve served for at least 90 continuous days, you meet the minimum active-duty service requirement.

For Veterans: The minimum active-duty service requirements depend on when you served.

Gulf War Period to Present: 

You meet the minimum active-duty service requirement if you served for: 

At least 24 continuous months, or The full period (at least 90 days) for which you were called or ordered to active duty, or

At least 90 days if you were discharged for a hardship, or a reduction in force, or less than 90 days if you were discharged for a service-connected disability.

More Details:

Active-duty military members, veterans, and some surviving spouses may be eligible for a VA loan.

The property being purchased must be the buyer’s primary residence.

The buyer must have a valid Certificate of Eligibility (COE) from the VA.

The buyer must have a satisfactory credit score, although no minimum score is allowed in some cases.

The buyer must meet the VA’s debt-to-income requirements.

The property must be livable, meaning all systems and components work, such as HVAC, plumbing, electrical, and no roof leaks.

The buyer must pay a funding fee, which can be financed into the loan.

An appraisal from a VA-approved appraiser is required, which the lender will order.

There are closing costs, however, those costs can be paid by the seller or by a lender credit. Your out of pocket could be as little as $650.

You can buy a house for your spouse and/or dependent child to live in while you are deployed.