Eligible veterans should take advantage of a VA Veterans Home Loan before the cost of home ownership goes up. Interest rates and home prices will not stay low. Get in on a VA Home Loan now.
As a veteran, you do not need to put money down on a home loan. This is the LAST home loan currently available with no down payment! Why would you not take advantage of this?
Also, the governments tax credit of $8,000 is up in November. The fall is a perfect time to buy a home. It is a buyers market.
Your eligibility for a VA home loan depends on when you served, whether your service was in peacetime or wartime, and the length of your service. Generally, active service of 90 days in wartime and 181 days in peacetime meets the minimum requirement to qualify if your service was before September 7, 1980. After this date, you may have to meet a 24-month requirement of continuous active service. There are exceptions to this, such as injury, troop reductions, and certain medical conditions.
If you are the spouse of someone who has died in active military duty or as a result of a disability suffered in active duty, you may also be eligible for a VA loan. Thanks to the Veterans’ Benefits Improvement Act of 1994, those who serve at least six years in the National Guard or Selected Reserve have become eligible as well.
More information on VA Veterans Home Loans
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