VA Home Loans

Peacetime Service

At least 181 days of continuous active duty with no dishonorable discharge. If you were discharged earlier due to a service-related disability you should contact your Regional VA Office for eligibility verification.

• July 26, 1947 to June 26, 1950

• February 1, 1955 to August 4, 1964, or May 8, 1975 to September 7, 1980 (Enlisted), or to October 16, 1981 (Officer)

• Enlisted Veterans whose service began after September 7, 1980, or officers who service began after October 16, 1981, must have completed 24-months of continuous active duty and been honorably discharged

Reserves and National Guard

• Certain U.S. Citizens who served in the Armed Forces of a government allied with the United States during World War II.

• Surviving spouse of an eligible Veteran who died resulting from service, and has not remarried

• The spouse of an Armed Forces member who served Active Duty, and was listed as a POW or MIA for more than 90-days

A VA home loan must be used to finance your personal residence within the United States and its territories. You have choices for the type of home you purchase:

• Existing Single-Family Home

• Townhouse or Condominium in a VA-Approved Project

• New Construction Residence

• Manufactured Home or Lot

• Home Refinances and Certain Types of Home Improvements

• 100% Financing & No Down Payment Loans

• No Private Mortgage (PMI)No Penalties for Prepaying the Loa

• Competitive Interest Rates

• Qualification is Easier than a Conventional Loan

• Sellers Pay Some of the Closing Costs

• Can be combined with additional down payment assistance to reduce closing costs

You can apply for a VA Loan with any mortgage lender that participates in the program. In addition to the application requirements from your lender, you will need the following at application time:

• Certificate of Eligibility from the Veterans Administration by submitting a completed VA Form 26-1880.

• Proof of Military Service from a VA Eligibility Center

Yes, your eligibility is reusable depending on the circumstance. If you have paid-off your prior VA Loan, and disposed the property, you can have your eligibility restored again. Also, on a 1-time basis, you may have your eligibility restored if your prior VA Loan has been paid-off, but you still own the property. Either way, the Veteran must send the Veterans Administration a completed VA Form 16-1880 to the VA Eligibility Center.

To prevent delays in processing, it's advisable to include evidence that the prior loan has been fully paid, and if applicable, the property was disposed. A paid-in-full statement from the former lender or a copy of the HUD-1 settlement statement must be submitted.

Starting January 1, 2020, the Blue Water Navy Vietnam Veterans Act of 2019 removed VA loan limits for veterans and service members who have full entitlement. This legislation also raised the VA funding fee and broadened disability benefits for veterans who were exposed to Agent Orange during the Vietnam War.

There are no VA loan limits if any of the following conditions are met:

• This is your first VA loan.

• You have previously taken out a VA loan, but have since paid off the mortgage and are purchasing a new primary residence.

• You have had a VA loan previously and experienced a foreclosure or short sale, but have repaid the VA in full.

Service members and veterans who either have active VA loans or have defaulted on a VA loan will continue to be subject to loan limits.For 2024, the loan limit for a single-family residence in most U.S. counties is set at $766,550. This is the maximum amount that a VA loan borrower subject to this limit can finance with no down payment in these areas.

In high-cost areas like Honolulu, New York, and San Francisco counties, the loan limits are higher. For 2024, the limit for a one-unit residence in these counties is $1,149,825.

Service members and veterans who either have active VA loans or have defaulted on a VA loan will continue to be subject to loan limits.For 2024, the loan limit for a single-family residence in most U.S. counties is set at $766,550. This is the maximum amount that a VA loan borrower subject to this limit can finance with no down payment in these areas.

In high-cost areas like Honolulu, New York, and San Francisco counties, the loan limits are higher. For 2024, the limit for a one-unit residence in these counties is $1,149,825.