The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans and 2 million active duty service members to help them achieve the dream of homeownership.
In 2018, $161 billion was loaned to veterans and their families through the program.
In the same year, the average loan amount was $264,197 and 610,513 loans were guaranteed.
Who Can Apply for a VA Loan
You can apply for the VA Loan if you have served:
90 consecutive days during wartime
180 consecutive days during peacetime
More than 6 years in the National Guard or Reserves
The spouse of a service member who has died in the line of duty or as the result of a service-related disability.
VA Home Loans Can Be Used for the Following
Purchase a Home
Purchase a Condo
Build a Home
Refinance an existing home loan
Make improvements to a home like solar heating or other energy conservation measures.
