VA Home Loans

What are some of the benefits of these loans and who are they for?

Soldiers dedicate their lives as a service to our country. So, in return for their sacrifices, the government found a way to provide assistance for veterans returning from service.

While on duty, it could be difficult to save money and build credit. Soldiers have other things to focus on. By the time their enlistment is over, they are sometimes unprepared for the next stage in their lives.

In 1944, the VA home loan program was created. The basic idea was to provide support for returning veterans to purchase homes. Typically, VA loans are available without needing a down payment or good standing credit. The government felt this was a better long-term solution than just providing a lump sum of cash for a down payment. Over time, VA home loans have helped over 20 million soldiers purchase a home.

VA home loans are for veterans, active duty service members, and, in some cases, widows of fallen soldiers. Unlike your traditional mortgage, which provides 80% financing, a VA mortgage usually finances 100% of the value of the home. VA loans do not require mortgage insurance. They are flexible and lenient if you have a history of foreclosure or bankruptcy. The credit requirements are typically lower, as well as the interest rates. Although, interest rates do depend on different factors such as your finances, lender, and more.

Like other loans, you must apply to see if you meet specific requirements that make you eligible for a loan. According to the Veteran Loan Center, service members could be eligible for a home loan if they: “have served 90 consecutive days of wartime, 181 days of services during peacetime, or more than six years in the National Guard or Reserves”. There are also other factors that go into eligibility for a loan.

VA home loans are like a thank you from the government to soldiers for their service.

By: KayLynn P.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Search All Blogs

Generic filters

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Generic filters

Read More Blogs

Beyond Boredom: Unearthing the Surprising Stories Behind Our Favorite Board Games

Game night secrets revealed! Discover the surprising origins and quirky facts behind your beloved board games.

Avoiding the Pitfalls: Common Mistakes of At-Home Businesses

Launch your home business right! Learn to avoid the common errors that can derail your entrepreneurial dreams.

Your Life Insurance Recipe: Crafting the Perfect Blend for Your Family’s Future

Find your perfect life insurance mix: Learn how to blend term and permanent policies for optimal family protection.

From Ford’s Innovation to Today’s Marvel: Unveiling the Secrets of Modern Car Production

Beyond the assembly line: Discover the surprising speed, customization, and quality checks involved in modern car manufacturing.

Beyond Pizza and Promises: Recognizing When It’s Time to Hire Professional Movers

Time to call the pros? Learn when pizza and beer just won’t cut it for your next move.

Mapping Our Roots: Uncovering the Stories Behind American City Names

City names revealed! Discover the historical, religious, and geographical influences behind the monikers of American cities.

The Agile Approach: Why Short, Focused Plans Are Overtaking the Mammoth Business Blueprint

Ditch the doorstop plan! Discover why concise, adaptable strategies are the new gold standard for business success.

Embracing Tomorrow: The Practical Power of Planning for Life’s Only Certainty

Face the future with confidence: Understand how planning for life’s only certainty with life insurance can provide lasting security.

Steering Your Savings: Taking Control of Your Car Insurance Rates

You’re in the driver’s seat! Learn how your credit, driving habits, vehicle choice, and smart shopping can lower your car insurance costs.

Underfoot Upgrade: Transforming Your Garage Floor from Forgotten to Fantastic

Don’t ignore your garage floor! Discover easy and impactful ways to upgrade this often-neglected area of your home.