VA
Loans
Veteran Loans - VA Loans
Veterans loans are mortgages that are guaranteed by the Department of Veterans Affairs (VA). This means that the VA guarantees the loan, which makes it less risky for lenders to offer. As a result, VA loans have more lenient requirements than conventional loans, making them a good option for veterans and service members.
VA Loan Eligibility Requirements
To qualify for a VA loan, you or your spouse must meet the minimum service requirements set by the Department of Veterans Affairs (VA), have a valid Certificate of Eligibility (COE), and satisfy the lender's credit and income requirements.
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Service Requirements
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You may qualify for a VA loan by meeting one or more of the following service requirements:
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90 consecutive days of active service during wartime
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181 days of active service during peacetime
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6 years of service in the National Guard or Reserves, or 90 days (at least 30 of them consecutively) under Title 32 orders
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Spouse of a service member who died while serving or due to a service-related disability
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Certificate of Eligibility (COE)
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Once you have met the service requirements, you can apply for a COE from the VA. This certificate proves that you are eligible for a VA loan.
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Lender Requirements
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In addition to the VA's requirements, lenders also have their own credit and income requirements for VA loans. These requirements may vary from lender to lender.
Contact Us For More Information
Klick Mortgage will be able to help you determine if you meet the eligibility requirements and to apply for a loan.
Veteran Loans Benefits
1 Day Approval
First Time Buyer
$0 Down / Do Not Require Down Payment
620 Credit Score
Competitive Interest Rates
Less Documentation
First-Time Buyer
No Mortgage Insurance Premium
Single Family / Condo / Townhouse
Fast Closings
Low Closing Costs
High DTI Ratios with Automatic Approvals
No Prepayment Penalty
Assumable Mortgage