Thank you to Mr. JR McKee.. Mr. JR McKee (Senior Government Loan Officer) was very professional and treated me as a special client, although I know that I was one of his many clients. JR kept me informed throughout the entire process as my loan documents made their way to the final approval desk...
-Herman G, Jr

How to Qualify For a VA Loan

Many Veteran home buyers feel that perhaps qualifying for a VA loan can be too time consuming and difficult. Qualifying for a VA loan is actually pretty simple when compared to the other types of home loans available.

What are the requirements to obtain a VA Loan?

Military Service
Specific Approved Loan Limits
General Underwriting Guidelines Apply

Service Time

You must currently be serving in the United States military or be an honorably discharged veteran to qualify. Surviving spouses and members of the Reserves or National Guard can also obtain VA Loans unders certain circumstances.

VA Loan Limits

The VA Loan "Limit" in your area refers to the maximum loan amount the government will guarantee in that area. Typically this amount is $417,000 but it can be much higher in high costs areas. As part of the Veteran's Benefits Improvement Act that President Bush signed into law at the very end of his term in 2008, veterans can now get VA loan amounts over $1,000,000 with certain lenders and in certain cases.

Qualifying for a VA Mortgage

VA Loans are not freebies - you still have to qualify just like with a traditional mortgage. Your lender will review your:

Credit Score and History
Current Income
Other Debts and Leins
Past Bankruptcies
On a purchase transaction property condition and value is also considered

Certificate of Eligibility

While a Certificate of Eligibility is your ticket to obtaining a VA Loan, the following guidelines set by the VA will help you determine if you are eligible for a VA Loan:

90 days or more of active duty service during war time
181 days or more of active duty service during peace time
No dishonorable discharge
You are currently active duty and fit into one of the first two criteria
You are the surviving spouse of a Veteran who died during service or because of service-related injuries and you have not remarried.
You are a reservist and have served for either a) six years, or b) you have spent at least 90 days deployed to a combat zone.