Apply Now
Instant Rate Quotes Inc Logo

VA Loans

The VA helps Service members and Veterans become homeowners by providing a home loan guaranty benefit and other housing-related programs to help you obtain, retain, or adapt a home for your own personal occupancy.

Through the VA Home Loan Guaranty Program, VA guarantees a portion of your loan against loss, which helps lenders provide you with more favorable financing terms.

What are some benefits of the VA loan program?

  • VA home loans often have lower interest rates and closing costs than conventional loans.
  • You may not have to make a down payment and mortgage insurance is not required.
  • You do not have to pay a penalty if you pay off your VA home loan early.
What are the service requirements to be eligible for a VA home loan?
When did you serve?You meet the minimum active-duty service requirement if you served for at least this amount of time:
Between September 16, 1940, and July 25, 1947 (WWII)
  • 90 total days, or
  • Less than 90 days if you were discharged for a service-connected disability
Between July 26, 1947, and June 26, 1950 (post-WWII period)
  • 181 continuous days, or
  • Less than 181 days if you were discharged for a service-connected disability
Between June 27, 1950, and January 31, 1955 (Korean War)
  • 90 total days, or
  • Less than 90 days if you were discharged for a service-connected disability
Between February 1, 1955, and August 4, 1964 (post-Korean War period)
  • 181 continuous days, or
  • Less than 181 days if you were discharged for a service-connected disability
Between August 5, 1964, and May 7, 1975 (Vietnam War), or
February 28, 1961, to May 7, 1975, if you served in the Republic of Vietnam
  • 90 total days, or
  • Less than 90 days if you were discharged for a service-connected disability
Between May 8, 1975, and September 7, 1980 (post-Vietnam War period), or
Between May 8, 1975, and October 16, 1981, if you served as an officer
  • 181 continuous days, or
  • Less than 181 days if you were discharged for a service-connected disability
Between September 8, 1980, and August 1, 1990, or
Between October 17, 1981, and August 1, 1990, if you served as an officer
  • 24 continuous months, or
  • The full period (at least 181 days) for which you were called to active duty
Between August 2, 1990, and the present (Gulf War)
  • 24 continuous months, or
  • The full period (at least 90 days) for which you were called or ordered to active duty, or
  • At least 90 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or
  • Less than 90 days if you were discharged for a service-connected disability
You separated from service after September 7, 1980, or
After October 16, 1981, if you served as an officer
  • 24 continuous months, or
  • The full period (at least 181 days) for which you were called or ordered to active duty, or
  • At least 181 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or
  • Less than 181 days if you were discharged for a service-connected disability
I’m on active duty now90 continuous days
When did you serve?You meet the minimum active-duty service requirement if you served for at least this amount of time:
Between August 2, 1990, and the present (Gulf War)90 days of active-duty service
Any time period
  • At least 90 days of non-training active-duty service, or
  • At least 90 days of active-duty service including at least 30 consecutive days (your DD214 must show 32 USC sections 316, 502, 503, 504, or 505 activation), or
  • 6 creditable years in the National Guard and you were discharged honorably or placed on the retired list
When did you serve?You meet the minimum active-duty service requirement if you served for at least this amount of time:
Between August 2, 1990, and the present (Gulf War)90 days of active-duty service
Any time periodAt least 90 days of non-training active-duty service, or

6 creditable years in the Selected Reserve, and one of these descriptions is true for you

At least one of these must be true:

  • You were discharged honorably, or
  • You were placed on the retired list, or
  • You were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, or
  • You continue to serve in the Selected Reserve
Types of VA loans we offer:

Purchase a home with up to 100% financing.

Refinance your existing VA loan to get a lower interest rate or lower payment through a streamlined process.

Replace your existing loan and take additional cash out to pay off and consolidate high interest rate credit cards or other debts, improve your home, pay for education, or cover any other personal expenses. 

Did you know you can purchase a home that needs updating, and pay for the purchase and the remodel with one loan?  The VA renovation loan allows you to do that!  You can also refinance to get funds to improve your existing home.  We’ll use the after repair value to determine how much you can borrow, with up to $50,000 in repair costs.