VA Loans FAQ

1) Who is eligible for a VA loan

• Active Military who have been on regular duty 6 months or more
• Veterans
• Reservists/National Guard
• Some surviving spouses

This is obviously a simplified list .   You can find out for certain if you are eligible by obtaining a Certificate of Eligibility.  You can obtain this yourself by applying online with the VA or sometimes the easiest method is to have a lender apply for you.  Lenders are usually familiar with the system and will be able to do this for you quickly and easily.

Will I need a lender for a VA loan?
Yes you will need a lender.  The Government does not make the loan directly but rather guarantees a portion of the mortgage to the lender.

Can I really obtain a loan with no money down?
Yes.  If you qualify for a VA loan you may be able to finance 100% of the purchase price.  Money is required for Closing Costs but many time you can negotiate for the seller to pay a portion or even all of these costs.

Can I get a good interest rate with a VA loan?
Yes.  Because VA loans have government guarantees backing a portion of the loan – VA loans tend to have some of the best interest rates of any loans available!!

Ready to apply for a VA loan?  Consult one our recommended lenders.  We only work with the best!!