A VA Loan is a mortgage loan in the U.S. guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long term financing to eligible American veterans or their surviving spouses (provided that they do not remarry)
Veterans, reservists, active-duty, surviving spouses of Veterans, based on military entitlement
You may be eligible for a VA Home loan if you meet one or more of the following conditions:
1. You have served 90 consecutive days of active service during wartime
– OR –
2. You have served 181 days of active service during peacetime
– OR –
3. You have more than 6 years of service in the National Guard or Reserves
– OR –
4. You are the spouse of a service member who has died in the line of duty or as a result of a service related disability.
1. Can you buy land with a VA loan? Farms?
2. Can I use my VA loan more than once? If so, are there any rules or caveats?
3. Mortgage assumption: Can a veteran transfer a mortgage with their current interest rate? If so, what happens to the veterans entitlement? Does the other borrower need to be a veteran?
4. Refinance with a VA loan? When would you recommend refinancing? When you recommend it?
5. Getting out of the military and want to use my VA loan, what do I need to have set up before I leave?
6. Can I buy a short sale or foreclosure home with a VA loan?
You’ve got questions and we can’t wait to answer them.