Basics

Typically speaking, there are four steps required in the VA Loan eligibility process: Do your VA Loan homework, Contact a VA-approved lender to start the application, Obtain your COE and Supplement all necessary documentation to the lender.

Additional income requirements needed to obtain a VA loan, include: Residual Income, Credit Score, Debt-to-Income Ratio and Other Factors

The Department of Veterans Affairs has mandated requirements for qualifying for VA Loans today. To be eligible for these loans, veterans, active-duty service members, National Guard members, and those on the reserves list must meet these requirements.

Quite simply: it’s the most resourceful home loan program available to veterans, service members, and military families in the United States right now.

Guaranteed by the U.S. Department of Veteran Affairs (VA), a VA Loan is a mortgage loan that is issued by approved lenders and then guaranteed through the VA.

A VA Loan is a mortgage option offered by private lenders that is partially backed, or guaranteed by the Department of Veteran Affairs. Because the VA backs the loan, it gives private lenders the confidence to offer a $0 down payment with great rates and no required Private Mortgage Insurance.