The VA home loan program has been around for decades, but the VA loan for reserves is a recent development. A lot of reservists don’t even know they are eligible for the benefit. As a reservist, you should learn more about your VA benefits, and if you are in the market to buy a ...
May 31, 2023 / in Military and Veterans / Homes for Heroes Last Updated on September 18, 2024 by Luke Feldbrugge This is everything we know about the VA loan, which is a process, a system, a benefit and a way to get a mortgage if you are a veteran or an active duty service ...
This always seems to be a popular mortgage question, regardless of loan type. The short answer is yes, you can use a VA loan to buy a manufactured home and/or lot. However, the trick is finding a lender out there willing to provide VA financing for a manufactured home. So it’s aye...
How to restore your VA loan entitlement You can use your VA loan benefit more than once. Much more than once, in fact. Veterans and active duty personnel, as well as members of the Selected Reserves, are eligible for another loan at the same low VA loan rates enjoyed by first-time home...
Step 2: VA Loan Preapproval The main difference between prequalification and preapproval is typically the verification of information - meaning you need to obtain and submit documents proving things like service status, income, employment and cash reserves. Preapproval makes sure the numbers add up...
Eligibility: Qualifying for a VA loan requires serving a minimum period and receiving an honorable discharge. In certain circumstances, surviving spouses may also be eligible for VA loans. VA Loan Types: The VA loan program includes loan options to finance everything from new construction to home...
If you find yourself in any of the following scenarios, you may qualify for a VA loan. Served90 or more daysduring wartime Served180 or more daysduring peacetime Servedmore than 6 yearsin the National Guard or Reserves You are theSpouseof a service member that died in the line of duty...
You’ll need to meet one of the following service histories to be eligible for a VA loan. (If you’ve been dishonorably discharged, you won’t be eligible at all.) Additionally, eligibility may be established for those who have served in the Selected Reserves or National Guard, Public He...
You’ve served six years in the Reserves or National Guard Your spouse was killed in the line of duty and you have not remarried Your eligibility for a VA loan never expires. Qualified veterans who earned their VA entitlement long ago are still using their benefit to buy homes. ...
Surviving spousesmay be eligible for a VA loan if their service member or Veteran spouse passed away under qualifying conditions, is missing in action, or a prisoner of war. Additionally, if the Veteran was rated totally disabled before their death, then the surviving spouse may also be eligibl...