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GI Home Loans


GI Home Loans:
Eligibility varies with the dates that the veteran served. Generally it is:
  • 90 Days during times of war.
  • 181 Days between WWII and Korea, between Korea and Vietnam, and post Vietnam until 9/7/80 (enlisted persons only).
  • 24 months or the full period for which the person was called to duty, which ever is less. (i.e., 181days for hardship or less if discharged for a service connected disability) for those who began service after 9/7/80 (officers after 10/16/81).
  • Active duty personnel who have served 181 continuous days in active duty, while their service continues without a break.

Surviving Spouses of MIA/POW's and vets who died of service connected causes, also have entitlement to loans.

Reservists who have met the VA's requirements for service may also be eligible.

The VA issues a certificate of eligibility to the veteran. The veteran then must find a mortgage company that will make the loan. The VA will guarantee the loan; but they will not make the loan. The maximum loan amount is constantly increasing, so I won't give a figure; but the loan may not exceed the reasonable value of the property, as set by the VA.

The VA home loan can help you have a lower fixed interest rate, a smaller down payment, and a longer repayment period than most conventional loans.

Each mortgage company is different, so shop around and get yourself the best deal.