---
title: "VA Home Loan Advantages"
url: "https://servingsandiegocounty.com/va-home-loan-advantages/"
post_type: "post"
date_published: "2022-11-09T04:00:35+00:00"
date_modified: "2022-11-03T21:24:48+00:00"
categories: ["Buy a Home", "Buyers", "Mortgage"]
---

# VA Home Loan Advantages

One in every ten adults in San Diego County is a veteran of military service. Veterans home loans can help Veterans, service members, and their survivors to buy, build, improve, or refinance a home. You’ll still need to have the required credit and income for the loan amount you want to borrow, but a Veterans home loan may offer better terms than a traditional loan. For instance, nearly 90% of VA-backed loans are made with no down payment! 
This quick guide from MBA Mortgage illustrates a summary of the perks of VA Home Loans:
Image from MBA Mortgage

VA Home Loan Advantages

Zero down payment option
Low-interest mortgages
Mortgage insurance is not required
Liberal credit eligibility requirements
Can still avail of a loan after bankruptcy or past foreclosure
Prepay without penalty

 
Eligibility
You need to get a Certificate of Eligibility (COE) for a VA home loan.

You may be able to get a COE if you didn’t receive a dishonorable discharge and you meet the minimum active-duty service requirement based on when you served.
You may be able to get a COE if you’re the surviving spouse of a Veteran or the spouse of a Veteran who’s missing in action or being held as a prisoner of war (POW). Find out how to request a COE as a surviving spouse
You may be able to get a COE if you meet at least one of these requirements. At least one of these must be true:

You’re a U.S. citizen who served in the Armed Forces of a government allied with the United States in World War II, or
You served as a member of certain organizations:

Public Health Service officer
Cadet at the United States Military, Air Force, or Coast Guard Academy
Midshipman at the United States Naval Academy
Officer of the National Oceanic & Atmospheric Administration
Merchant seaman during World War II

Often active-duty military and veterans do not know that they have some of the best home-buying benefits available! So if you or anyone you know can make use of the information above, feel free to share this.
Source: US Department of Veterans Affairs