Veteran Affairs (VA) loans are making the dream of homeownership a reality for millions of veterans and military personnel across the country! VA Loans are equal opportunity loans for all qualified veterans and military personal who meet the service requirements.
Who Are VA Loans For?
Benefits Of VA Loans
- No Down Payment
- No Private Mortgage Insurance
- Competitive Interest Rates
- Basic Allowance for Housing or BAH
- No Pre-Payment Penalty
VA Loan Eligibility
What are the requirements for VA Loan Eligibility?
- Must be a Veteran who has served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum of 181 continuous days during peacetime.
- There is a two-year requirement if the veteran enlisted and began service after September 7, 1980 or was an officer and began service after October 16, 1981.
- Six-year requirement for National Guards and reservists with certain criteria.
- Additional specific rules apply concerning the eligibility of surviving spouses.
Be sure to check the VA Home Loan section of the U.S. Department of Veterans Affairs website for more information and criteria!
Who Can I Contact About VA Loans?
Melton & Associates are proud to be partnered with one of the areas top VA loan experts, Mark Halvorsen of Movement Mortgage. Visit Mark’s website or contact him directly to start benefiting from your VA Loan eligibility today!