What Are the Requirements of a VA Loan?
You may qualify for a VA loan if one of the following applies to you:
You are a current active duty service member or a veteran who was honorably discharged. You must have completed at least 90 consecutive days of active service during wartime or 181 days of active service during peacetime.
You have served at least 6 years in the National Guard or the Selected Reserve.
You are the spouse of a service member who died in service or from a service-related disability, and you have not remarried.
The VA loan does not require a down payment or mortgage insurance. A funding fee is required to defray the cost of the loan.
- What Is a VA Loan?
- Can I Use an FHA Loan to Purchase a Rental Property?
- What Is an FHA Section 203(k) Loan?
- What Are the Requirements of an FHA Section 203(k) Loan?
- What Is the HomePath Ready Buyer Program?
- What Is an Energy-Efficient Mortgage?
- How Do I Qualify for an Energy-Efficient Mortgage?
- What Is a Good Neighbor Next Door Loan?
- What Are the Requirements of the Good Neighbor Next Door Program?
- What Is a HARP Loan?
- What Are the Requirements of a HARP Loan?
- Can I Use a VA Loan to Purchase a Rental Property?
- How Long Until My VA Loan Closes?
- What Is a USDA Loan?
- What Are the Requirements of a USDA Loan?
- What Is an FHA Loan?
- What Are the Requirements of an FHA Loan?
- How Long Do I Need to Live on the Property If I Get an FHA Loan?