What Every Veteran Needs to Know About the VA Home Loan Program

As a veteran, you've dedicated your time and energy to serving our country, and now it's time to reap the benefits you've earned. One of the most valuable resources available to you is the VA Home Loan Program. This government-backed mortgage option is designed to help veterans, active-duty service members, and eligible surviving spouses achieve the dream of homeownership. In this blog post, we'll explore everything you need to know about the VA Home Loan Program, from its key benefits to eligibility requirements and the application process. Let's dive in!

  1. Key Benefits of the VA Home Loan Program
  • No Down Payment: One of the most significant advantages of the VA Home Loan Program is the ability to finance 100% of the home's purchase price, eliminating the need for a down payment in most cases.
  • Competitive Interest Rates: VA loans typically offer lower interest rates than conventional mortgages, which can save you thousands of dollars over the life of your loan.
  • No Private Mortgage Insurance (PMI): Unlike conventional loans, VA loans don't require monthly PMI payments, further reducing your monthly mortgage expenses.
  • Flexible Credit Requirements: The VA Home Loan Program is more forgiving of past credit issues, making it easier for veterans with less-than-perfect credit to qualify.
  • Closing Cost Limits: The program limits the amount of closing costs that can be charged to the borrower, potentially saving you thousands of dollars during the home-buying process.
  1. Eligibility Requirements

To qualify for a VA home loan, you must meet the following criteria:

  • Service Eligibility: You must have served at least 90 consecutive days of active duty during wartime or 181 days during peacetime. Alternatively, you must have completed six years in the National Guard or Reserves.
  • Discharge Status: You must have been discharged honorably or have been placed on the retired list.
  • Certificate of Eligibility (COE): You'll need to obtain a COE to prove your eligibility for the VA Home Loan Program.
  1. The VA Loan Application Process

Follow these steps to begin your journey to homeownership with a VA home loan:

  • Obtain your COE: Start by applying for your COE through the VA's eBenefits portal or by submitting a paper application (VA Form 26-1880) to the VA.
  • Find a VA-approved lender: Look for mortgage lenders specializing in VA loans, as they'll be familiar with the program's guidelines and requirements.
  • Get pre-approved: Before house hunting, secure pre-approval to understand your borrowing power and demonstrate your credibility to sellers.
  • Find your dream home: Work with a real estate agent experienced in helping veterans to find a property that meets your needs and the VA's minimum property requirements (MPRs).
  • Submit your loan application: Once you've found the perfect home, your lender will help you complete the loan application and guide you through the underwriting process.
  • Close on your new home: After final approval, you'll attend the closing, sign the necessary paperwork, and receive the keys to your new home.


The VA Home Loan Program offers a range of unique benefits to help veterans and eligible family members achieve the dream of homeownership. By understanding the program's advantages, eligibility requirements, and application process, you'll be well-equipped to make the most of this valuable resource. If you have any questions or need assistance with your VA home loan journey, feel free to reach out to our team of experienced mortgage professionals. We're here to help make your dream a reality!

* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.