Home Loan

The VA does not directly give loans to veterans and service members. Instead, the VA guaranties a percentage of the loan, which allows veterans, service members, reservist, and unmarried surviving spouses to find competitive interest rates, usually without a down payment. However, manufactured homes do require a down payment, as well as home, which has a purchase price greater than the estimated value.

NOTE: The VA will make direct loans to Native American veterans, who wish to buy, build, or improve a home on tribal lands, or an eligible disabled veteran, who qualifies for a Special Adapted Housing grant.

Loan Guaranty uses:

  • Buy a home or condominium
  • Construct a new home
  • Improve or repair a home
  • Refinancing
  • To purchase a manufactured home and/or lot
  • To purchase and improve a lot in order to place an owned and occupied manufactured home on
  • Refinancing a manufactured home in order to purchase a lot

NOTE: VA will not give loan guaranties to purchase businesses or farms (unless a farm house is included, which will be occupied by the person receiving the guarantee)


Unless the veteran was discharged for a service connected disability, he/she must have received a discharge under honorable conditions. The veteran must also have met certain time in service requirements.

  • WW II - 09/15/1940 through 07/26/1947 (90 days)
  • Post WW II - (181 days)
  • Korean War - 06/27/1950 through 01/31/1955 (90 days)
  • Post Korean War - (181 days)
  • Vietnam War - 08/04/1964 through 05/07/1975 (90 days)
  • Post Vietnam War - 05/08/1975 through 09/07/80 (181 days)
  • 24 Month Rule - 09/09/1980 to present (2 years)
  • Reservist and National Guard have different service requirement. They are eligible if the were activated after 08/01/1990 and served90 continuous days of active duty
  • Members of the Select Reserve are eligible after 6 years of honorable service

Eligibility of non-veterans/service members

Unmarried spouses of veterans/service members who died on active duty, surviving spouses who remarry after the age of 57, Spouses of active duty service members listed as MIA or POW for more than 90 days, U.S. citizen who served in the armed forces of an Allied government during WW II.