Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
The VA Loan Program offers government guaranteed mortgages to people who are currently serving or have served in the United States military. If qualified, participants of VA loans receive favorable terms such as no down payment and lower interest rates than most conventional mortgages.
The VA Loan Program is available to all veterans who were honorably discharged after completing their military service, as well as active military members who have served for at least 90 days during war or 181 days during peacetime. Military members who received an honorable discharge prior to the end of their term are also eligible provided they completed the 90 day or 181 day requirement. An example of an early discharge would be a military member who is injured while serving his country.
You will need to provide the lender with verification of your military status with a Certificate of Eligibility for Home Loan Benefits. Many lenders have access to the VA online ACE database and can receive your certificate of eligibility immediately. When this is not possible, you will need to complete VA Form 26-1880 and include a current statement of service or a DD Form 214 to show evidence of your current or past military service.
- Short Selling a Rental Property
- 3 Factors that Can Negatively Affect Your Mortgage Application
- 3 Common Short Sale Mistakes
- Should You Refinance? Make Sure the Timing is Right
- 3 Reasons Banks Reject Short Sales
- FHA Eligibility with Bankruptcy and Foreclosure
- How to Get Approved for an FHA Loan despite Bad Credit
- What To Do When Mortgages Default
- Alternatives to Getting a 2nd Mortgage