VA Home Loans Offer Mortgage Value

January 23rd, 2010

Learn the essentials of eligibility for a VA loan. Then make your mortgage calculations for an affordable home loan.

Veterans may find attractive home loan rates on mortgages administered by the Department of Veterans Affairs, formerly known as the Veterans Administration.

VA Home Loan Rate Eligibility

The VA can provide all of the details, but you probably are eligible if you were not dishonorably discharged and you served on active duty for:

After the peacetime dates above or for Gulf War service beginning August 2, 1990, you must have completed:

Service personnel now on active duty are eligible after 181 days of service.

Please note that the VA allows exceptions for hardship, disability, and other reasons for discharge and provides other qualifications for eligibility.

Applying for a VA Mortgage

After making your mortgage calculations and deciding to apply for a VA home loan, you must complete a VA Form 26-1880, Request for a Certificate of Eligibility. To avoid delays, also provide proof of military service. VA-approved lenders can obtain a certificate of eligibility for you by using the Web LGY online system.

The VA will accept the following as proof of military service:

For those serving on regular active duty, include an original statement of service that includes your:

This statement must be signed by, or by direction of, the adjutant, personnel officer, or commander of your unit or higher headquarters.

For those discharged from regular active duty, include a photocopy (not the original) of DD Form 214, Certificate of Release or Discharge From Active Duty, if discharged after January 1, 1950. If discharged after October 1, 1979, include a photocopy of DD Form 214, copy 4.

If you were discharged from the National Guard or Selected Reserve, you must submit copies of documents proving six or more years of honorable service. Veterans of the Army or Air Force National Guard may submit NGB Form 22, Report of Separation and Record of Service, or NGB Form 23, Retirement Points Accounting, or the equivalent.

As one of the primary benefits for veterans, the VA loan program expresses thanks for your service from a grateful nation.

VA Home Loans Offer Mortgage Value

January 23rd, 2010
Learn the essentials of eligibility for a VA loan. Then make your mortgage calculations for an affordable home loan.Veterans may find attractive home loan rates on mortgages administered by the...  Read More

1 Responses to "VA Home Loans Offer Mortgage Value"
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