VA Home Loan Learning Center
general information
General info
The VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of their mission to serve you, the VA provides a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.
VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.
You will still need to have the required credit and income for the loan amount you want to borrow, but a VA home loan typically offers better terms than a traditional loan from a private bank, mortgage company, or credit union. For example, nearly 90% of VA-backed loans are made with no down payment, and...
Beginning January 1, 2020, the VA completely eliminated the county cap on VA-backed, no-down-payment loans
The first step in the VA loan process is to shop around for a lender. We make the process easy by matching you with the right lenders for rate quotes - no obligations or credit checks required.
Persons who may qualify for VA-guaranteed loans include:
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Veterans
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Certain Reserve and National Guard Members who were activated*
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Active-duty Servicemembers
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Current Reserve and Guard members after six years of creditable service
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Certain surviving spouses
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Commissioned Officers of the PHS
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Commissioned Officers of NOAA
*National Guard and Reservists are eligible if they were "activated" under the authority of Title 10 or Title 32 U.S. Code. Those with Title 32 service must have at least 30 days continuous active service.
However, you are not eligible for VA financing solely based upon Active Duty for Training in the Reserves or National Guard.
The following length-of-service requirements apply, in most cases:
Service Dates
Minimum Active-Duty Service Requirement
Korean War
June 27, 1950, and January 31, 1955
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90 total days, or
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Less than 90 days if you were discharged for a service-connected disability
Post-Korean War
February 1, 1955, and August 4, 1964
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181 continuous days, or
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Less than 181 days if you were discharged for a service-connected disability
Vietnam War
August 5, 1964, and May 7, 1975
Or if you served in the Republic of Vietnam
February 28, 1961, to May 7, 1975
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90 total days, or
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Less than 90 days if you were discharged for a service-connected disability
Post-Vietnam War
May 8, 1975, and September 7, 1980
Or if you served as an officer
Between May 8, 1975, and October 16, 1981
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181 continuous days, or
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Less than 181 days if you were discharged for a service-connected disability
September 8, 1980, and August 1, 1990,
Or if you served as an officer
Between October 17, 1981, and August 1, 1990
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24 continuous months, or
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The full period (at least 181 days) for which you were called to active duty
Gulf War to present
August 2, 1990, onwards
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24 continuous months, or
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The full period (at least 90 days) for which you were called or ordered to active duty, or
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At least 90 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or
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Less than 90 days if you were discharged for a service-connected disability
You separated from service after September 7, 1980 onwards
Or after if you served as an officer
October 16, 1981 onwards
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24 continuous months, or
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The full period (at least 181 days) for which you were called or ordered to active duty, or
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At least 181 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or
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Less than 181 days if you were discharged for a service-connected disability
I'm on active duty now
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90 continuous days
You are not eligible for VA financing solely based upon Active Duty for Training in the Reserves or National Guard.
Note: Guard and Reservists are eligible if they were "activated" under the authority of Title 10 or Title 32 U.S. Code. Those with Title 32 service must have at least 30 days continuous active service.
Regional Loan Centers
For Veterans or Servicemembers who have a VA-guaranteed conventional or sub-prime loan, the Department of Veterans Affairs (VA) has a network of eight Regional Loan Centers that can offer advice and guidance during times of financial hardship.
Borrowers may visit their regional office, or call toll free -1-877-827-3702 to speak with a VA Loan Technician. However, if a Veteran does not have a VA-guaranteed home loan, the VA does not have the authority to intervene on the borrower's behalf. It is imperative that you contact your mortgage servicer as quickly as possible when faced with financial hardship.
If you have questions about the VA Home Loan, housing grants, or whether you may qualify for a VA Home Loan, you may contact a VA Home Loan Representative by calling 1-877-827-3702.
The VA Home Loan's toll-free number operates Monday - Friday, from 8:00am to 6:00pm EST.
Alternatively, you may contact the applicable regional office via the email, phone, or mailing address listed below.
You can also contact GI Joe Homes for help or questions regarding the VA home loan by calling 1-650-400-7330.
GI Joe Homes is open seven days a week, from 8:00am to 6:00pm PST.
VA Regional loan centers
Residential area surrounding Camp Parks.
Phoenix
Physical & Mailing Address
Dept. of Veterans Affairs
VA Regional Loan Center
3333 N. Central Avenue
Phoenix, AZ 85012-2402
Construction & Valuation
Loan Production
LPGC.VBAPHO@va.gov
General Inquiries
Denver
Physical Address
VA Regional Loan Center
155 Van Gordon Street
Lakewood, CO 80228
Mailing Address
Box 25126
Denver, CO 80225
Construction & Valuation
39VA262.VBADEN@va.gov
Loan Production
St. Paul
Physical & Mailing Address
Dept. of Veterans Affairs
VA Regional Loan Center
1 Federal Drive,
Ft. Snelling
St. Paul, MN 55111-4050
Construction & Valuation
Email: CV335@va.gov
Loan Production
Email: RLC335@va.gov
General Inquiries
Houston
Physical & Mailing Address
Dept. of Veterans Affairs
VA Regional Loan Center
6900 Almeda Road
Houston, TX 77030-4200
Construction & Valuation
CV62.VBAHOU@va.gov
Loan Production
HOUSTONLGY@va.gov
St. Petersburg
Physical & Mailing Address
Dept. of Veterans Affairs
VA Regional Loan Center
9500 Bay Pines Blvd.
St. Petersburg, FL 33744
Construction & Valuation
Loan Production
homeloan.vbaspt@va.gov
Atlanta
Physical Address
Dept. of Veterans Affairs
VA Regional Loan Center
1700 Clairmont Rd.
Decatur, GA 30033-4032
Mailing Address
P.O. Box 100023
Decatur, GA 30031-7023
Construction & Valuation
316LGYCNV@VA.GOV
Loan Production
ATLLOANPROD@va.gov
Roanoke
Address
Dept. of Veterans Affairs
VA Regional Loan Center
210 Franklin Road, S.W.
Roanoke, VA 24011
Construction & Valuation
CV.VBAROA@va.gov
Loan Production
ROANOKE.LP@va.gov
Cleveland
Address
Dept. of Veterans Affairs
VA Regional Loan Center
1240 East Ninth Street
Cleveland, OH 44199
Construction & Valuation
325CNV@va.gov
Loan Production
VAHOMESITE@va.gov
benefits
No down payment / 100% Financing
One of the most valuable aspects of VA Home Loans is that they don’t require a down payment. In fact, 100% of the home’s value can be financed with a VA home loan. While veterans do need to pay a fee to the VA upon loan closing (this fee helps to keep the VA home loan program funded for other veterans in the future), the fee is less than even a minimum down payment on any other loan type.
No PMI required
VA loans do not have any type of mortgage insurance premiums or private mortgage insurance costs. Even if the veteran purchases a home with a 0% down payment, there is no insurance cost to factor into the home’s monthly mortgage payment with a VA home loan.
Other loans require mortgage insurance premiums for any down payment of less than 20% of the home’s value. This fact alone has the potential to save veterans up to a hundred dollars a month–or more, depending on the value of the home purchased– on their mortgage payments.
Low credit scores accepted
Typically the lowest interest rates available
Lastly, VA home loans typically have lower interest rates than do other loan types. This isn’t always the case, but in the majority of instances, eligible veterans are offered lower mortgage rates on VA loans than on conventional or FHA loans.
100% equity cash out
Cash Out Refinance loans allow you to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements.
Flexible borrower requirements
Seller can pay up to 6% of closing costs
Refinancing is easy with the VA’s streamlined refinancing
For veterans who already own homes, refinancing with a VA loan allows for the opportunity of 100% equity cash out. This is something many homeowners find to be extremely valuable, especially when it comes to saving for college or retirement, making home improvements, or even paying off higher interest debt such as credit cards or installment loans.
Even if a veteran owns a home with another loan type, he or she can refinance with a VA loan and still take advantage of being able to access up to 100% of their home’s equity. No other home loan type offers this benefit.
Can choose between 15 or 30 year fixed-rate or adjustable home loan
Higher DTI ratios accepted
The VA will negotiate on your behalf with the lender if you are facing foreclosure
Eligibility
Your length of service or service commitment, duty status and character of service determine your eligibility for specific home loan benefits.
Can I get a Certificate of Eligibility for a VA direct or VA-backed home loan?
You may be able to get a COE if you didn’t receive a dishonorable discharge and you meet the minimum active-duty service requirement based on when you served.
loan types
Purchase Loans and Cash-Out Refinances
VA-guaranteed loans are available for homes for your occupancy or a spouse and/or dependent (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).
Interest Rate Reduction Refinance Loan (IRRRL)
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. The IRRRL is generally performed to lower the interest and reduce the monthly payment on the existing VA guaranteed loan.
Native American Direct Loan Program
The NADL program helps Native American Veterans purchase, construct, improve, or re-finance a home on Native American trust lands. Your tribal organization must participate in the VA direct loan program. You must have a valid Certificate of Eligibility (COE).
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Adapted Housing Grants
VA helps Veterans with certain total and permanent disabilities related to your military service obtain suitable housing with either a Specially Adapted Housing (SAH) or Special Housing Adaptation (SHA) grant.
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Native American Direct Loan Program
To get a VA-backed home loan as the surviving spouse of a Veteran, you’ll need a Certificate of Eligibility (COE) to show your lender that you qualify for this benefit. Keep in mind that you’ll also need to meet your lender’s credit and income requirements to get a loan. Find out if you can get a COE.
disability housing grants
When you hire a good real estate agent, you're not just hiring them for their abilities, you're also hiring them for their professional network. Top agents keep in constant contact, and frequently notify each other of homes before they enter the market. These are called off-market opportunities and having access to these homes is a tremendous benefit to you, the buyer.
resources
When you hire a good real estate agent, you're not just hiring them for their abilities, you're also hiring them for their professional network. Top agents keep in constant contact, and frequently notify each other of homes before they enter the market. These are called off-market opportunities and having access to these homes is a tremendous benefit to you, the buyer.
comparisons
Why get a VA loan over other types?
Simply put, a VA Home loan allows qualified buyers the opportunity to purchase a home with no down payment. Also, there are no monthly mortgage insurance premiums to pay, limitations on buyer's closing costs, and an appraisal that informs the buyer of the property value. For most loans on new houses, construction is inspected at appropriate stages and a one year warranty is required from the builder. VA also performs personal loan servicing and offers financial counseling to help veterans having temporary financial difficulties.
applying
When you hire a good real estate agent, you're not just hiring them for their abilities, you're also hiring them for their professional network. Top agents keep in constant contact, and frequently notify each other of homes before they enter the market. These are called off-market opportunities and having access to these homes is a tremendous benefit to you, the buyer.
is the va home loan right for you?
When you hire a good real estate agent, you're not just hiring them for their abilities, you're also hiring them for their professional network. Top agents keep in constant contact, and frequently notify each other of homes before they enter the market. These are called off-market opportunities and having access to these homes is a tremendous benefit to you, the buyer.