Mortgages Made Simple
About VA Loans
The VA loan program started in the wake of World War II for service members returning from overseas. It was an affordable way for military personnel to become homeowners. VA loan requirements have shifted over time, but the basic concept remains the same. Qualifying veterans and active service members can get low interest rates and favorable terms when refinancing or purchasing a home.
Requirements for VA home loan eligibility include:
An active duty member of the armed forces
In the National Guard
In the Reserves
A surviving spouse of a military service member who has not remarried
Through the VA program, the government guarantees the loan made by independent VA lenders, like Virtua Funding, that give you the mortgage. The VA home loan program is generally very affordable with a lower then average mortgage rate since the government takes away the risk from the mortgage lender.
VA home loan requirements
The specific requirements of each VA lender varies from lender to lender. For example, you still would need to qualify for the loan based on your income and assets. To start the loan process, you’ll need to gather some basic information to provide us when you call:
There are two main options to lower your VA Rates or tap into your home's equity through a VA refinance mortgage: