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Five Steps to a VA Loan
Apply for a Certificate of Eligibility.
A veteran who doesn't have a certificate can obtain one easily by completing
VA Form 26-1880,
Request for a Certificate of Eligibility for VA Home Loan Benefits and ...
Eligibility Requirements
Veterans who served on active duty and were discharged
under conditions other than dishonorable, during World War II and later periods
are eligible for VA loan benefits.
Eligibility Questions
Question: How do I apply for a VA guaranteed loan?
Answer: You can apply for a VA loan at any mortgage company that participates
in the VA home loan program.
Financing Benefits
More than 29 million veterans and service personnel are eligible for VA
financing. Even though many veterans have already used their loan benefits, it
may be possible for them to buy homes again with VA financing using remaining or
restored loan entitlement.
Obtaining a VA Loan
The CRV (certificate of reasonable value) is based on an appraiser's estimate of
the value of the property to be purchased.
VA Loan Costs
A basic funding fee of 2.0 percent must be paid to VA by all but certain exempt
veterans. A down payment of 5 percent or more will reduce the fee to 1.5 percent
and a 10 percent down payment will reduce it to 1.25 percent.
Restoration of Entitlement
Veterans who had a VA loan before may still have "remaining entitlement" to use
for another VA loan. The current amount of entitlement available to each
eligible veteran is $36,000.
VA Loan Questions & Answers
Question: Can I get a VA loan if I have had a bankruptcy in the last few years?
Answer: VA credit standards state that a veteran with a bankruptcy less than 3
years ago would generally not be considered a satisfactory credit risk unless:
VA Office Locations
VA has provided the following toll-free numbers for the convenience of veterans
and dependents:
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