VA Loan You served your country. Now let your country and Waterstone Mortgage return the favor with special financing just for veterans. VA loans reward veterans for their service and sacrifice on behalf of our country in a number of ways. What Is A VA Loan? VA loans are a special type of home mortgage reserved for active military members and veterans. These home loans are guaranteed by the U.S. Department of Veterans Affairs and offered by participating approved lenders like Waterstone Mortgage. VA loans allow eligible veterans and active military personnel to realize their home buying dreams and help existing VA homeowners with money-saving refinance options. VA Loan Benefits VA loans are designed to provide long-term home financing to qualified veterans and, in some cases, their surviving unmarried spouses. In many instances, their interest rates can be better than other conventional loans. VA loans offer a number of advantages over other types of mortgages, including: No penalty fee if you pay the loan off early No private mortgage insurance requirements Less than perfect credit can apply VA may be able to provide some assistance if mortgage payment problems arise Who is Eligible For A VA Loan? Active-duty military Veterans Reservists and members of the National Guard Some surviving spouses of veterans These eligibility requirements are unique to VA loans. In addition to past or present military service, standard home loan criteria like your credit score and income will also play a role in your eligibility. Certificate of Eligibility In order to apply for a VA-sponsored loan, you will need to obtain a Certificate of Eligibility (COE). Your COE verifies to lenders that you meet the requirements necessary to obtain a VA-sponsored loan. Applying for a COE is straightforward and can be done online, through the mail or through a lender. Active duty military personnel and current National Guard members or Reservists who have never been Federal active service will need to present a current statement of service in order to obtain a COE. Veterans and current or former National Guard members and Reservists that have been activated for Federal active service will need to present a DD Form 214 confirming their past service. Get Pre-Qualified For A VA Loan Let an experienced VA financing professional at Waterstone Mortgage help you navigate the VA loan process. Get started with a pre-qualification today. Subject to credit approval. A VA loan is a government-insured loan subject to certain qualifications and restrictions. A VA funding fee is typically required, which can be financed into the loan amount. If you are a servicemember on active duty, prior to seeking a refinance of your existing loan, consult yourlegal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.