Unbelievable: 89% of Veterans haven’t redeemed this benefit

This old veteran home loan offer still works!


In 1944, the United States Department of Veteran’s Affairs crafted a program that would help the country’s bravest conquer a domestic endeavor: homeownership. The program was designed to reduce the hurdles to home buying that were brought on by the financial sacrifices made while serving the country. But what few veterans know is that the program never expired. In fact, today’s interest rates make it more lucrative than ever.

Take a quick run through this checklist to see if you’re eligible.

I’m a veteran

The program requires a minimum service between 90 days and 2 years for most veterans. Once you've determined that you're eligible for a VA home loan, you'll need to get a Certificate of Eligibility (COE) to show lenders that you qualify. You can easily apply for a COE online.

I want to buy a home

VA home loans have minimum property requirements (MPRs) that must be met for loan approval. These MPRs include:

  • Single family, marketable home with no more than 25 percent of space used for non-residential purposes
  • Each unit must include living, sleeping, cooking, and sanitary (washroom) spaces
  • Mechanical systems must be safe and operational
  • Heating systems must meet noted MPRs for relevant unvented heating systems, wood stoves, or solar systems
  • Each home must have hot water, potable drinking water, and a sewage disposal system
  • The roof must effectively keep moisture out
  • Homes must be properly ventilated (including crawl space areas)
  • Should have working electricity

Those are pretty easy requirements to hit, basically you just need to be looking to buy a normal home and not an abandoned warehouse or creaky garden shack.

I don’t want to pay mortgage insurance

Private mortgage insurance (PMI) is usually required if you put down less than 20 percent on a home loan. That’s not the case with a VA loan. Ditching the PMI could save you hundreds of dollars per month. If you’re a veteran and you want lower monthly payments, you want a VA loan.

OPTIONAL

I already own a home, but want VA loan benefits

Drop your payment with a VA streamline. Vets receive A No Appraisal VA loan without any out-of-pocket expenses. Reduce your payment with a VA streamline. See how to transition to a mortgage with VA benefits.

I want a VA loan!

Check this last box to see if you qualify for a VA loan.