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:

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



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