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For most service members and veterans who qualify, a VA loan is one of their most valuable benefits and a no-brainer over a traditional mortgage. If you qualify, you can buy or build a home or refinance an existing mortgage with as little as $0 down, great rates and financing with no mandated cap.
This section features information and answers to common questions about VA Loan benefits. Get important tips, and find contact information for regional loan centers.
Ready to start the VA loan process? Read about how to confirm your eligibility for a loan.
Veterans and service members will need to meet credit, income and other requirements set by the VA and the lenders that actually make these loans. There’s a range of steps veterans can take to put themselves in great position to maximize their VA loan benefits.
Yes, you can purchase a home using your VA loan benefits while overseas. Keep in mind there are some regulations in place to protect your personal information. Providing a power of attorney that can manage your home purchase while you’re away can help streamline the process.
Making the decision to stay in military housing or to purchase your own home is complicated. There are a lot of factors you’ll need to take into account before you make your decision. There are many pros and cons to think about. Our military housing vs. home purchase guide can give you some perspective, and hopefully it'll make your choice a bit easier.
It’s possible to have more than one VA loan but it’s not common. Military reassignment is the most common reason for multiple VA loans. If the VA homeowner has VA loan entitlement (second-tier entitlement) the VA will typically allow a second home to be purchased up to the remaining entitlement amount. Veterans still need to qualify.
Your VA loan monthly payment will vary depending on home purchase price, interest rate, down payment, credit score and even home location. We've created a user-friendly VA loan calculator so you can get a rough estimate of your cost breakdown per month.
Yes, of course you can refinance your VA loan! There are several VA loan refinance programs available, including the cash out refinancing program as well as the streamline refinance option.
VA loans make home buying more affordable for millions of veterans and active service members. Find everything you need to know about VA Loan Programs.
Do you have more questions about your VA Loans? These resources contain tips and important information to help you get the most out of your VA Loan benefits. Find contact information for regional loan centers.