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VA RESOURCES
This page offers details on the VA home loan entitlement for further questions, don't hesitate to email us.
What is the VA loan entitlment? A VA loan is a type of mortgage loan that is guaranteed by the United States Department of Veterans Affairs (VA). It is designed to help eligible veterans, active-duty service members, and surviving spouses purchase or refinance a home with more favorable terms than conventional loans. VA loans typically have more flexible requirements and lower interest rates than other types of loans, which can make them an attractive option for those who qualify. One of the biggest benefits of a VA loan is that it allows borrowers to purchase a home with no down payment, which can be a significant financial advantage for those who may not have saved enough for a down payment. To be eligible for a VA loan, a borrower must meet certain requirements, including having served in the military for a certain period of time, being an active-duty service member, or being a surviving spouse of a veteran. The specific requirements can vary based on the individual's circumstances, so it's important to consult with a VA-approved lender to determine eligibility.
Am I elgible for a VA Loan? The following individuals may be eligible for a VA loan: Veterans who have served for at least 90 consecutive days of active service during wartime, or at least 181 days of active service during peacetime. Active-duty service members who have served for at least 90 consecutive days. National Guard and Reserve members who have completed at least six years of service, or who have been called to active duty for at least 90 consecutive days. Surviving spouses of military members who died in the line of duty, or as a result of a service-connected disability. It's important to note that there are additional eligibility requirements and criteria that must be met, including income and credit score requirements, and a valid Certificate of Eligibility (COE) issued by the VA. It's recommended to speak with a VA-approved lender or the VA directly to determine eligibility.