VA Home Mortgage Loans - up to 100% Financing

VA Home Loan Requirements

There are several criteria you need to be eligible for a VA loan. If you are unsure if you are elibile or will qualify, you should speak with a licensed mortgage broker who does VA loans or a VA loan consultant. The first thing you will need get a VA loan is to get a Certificate of Eligibility.

VA loan qualification steps:

• Active-duty veterans discharged during WWII or later, who do not have a "dishonorable" discharge
• Active-duty veterans with at least 90 consecutive days of service during major conflict
• Peacetime veterans and active duty personnel with a minimum of 180 days of consecutive service
• Enlisted veterans whose service began after 1980 or officers whose service began after 1981 and who have served at least two years.

Who may also qualify are the National Guard and Selected Reserve members. To confirm this, please check your eligibility with a qualified VA mortgage loan specialist for further answers.

How Much Can I borrow with a VA Loan?

The VA does not put a maximum limit on how much a veteran can receive, this is determined by the lender, generally a bank or a mortgage company which does VA loans. The standard entitlement of a VA mortgage loan is $36,000, however some loans are eligible for $60,000 if greater than $144,000. What happens is the lender will lend out up to four times the amount of the basic entitlement without requiring a down payment from the borrower.

Even though there is no set cap limit, the VA permits you to borrow, the majority of lenders and banks will not approve a VA loan over $417,000 which is the limit for conventional conforming loans and due to secondary market constraints.


Apply Now