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If you have been in the armed services for at least 6 months and are purchasing or refinancing a home, then the next step for you is to learn how to apply for a VA loan while in service. A VA loan is really a guaranty from the government that will cover up to 25% of a home loan from a lender, meaning you actually need to find a conventional lender and then apply the benefits of the VA loan to the home loan.

The first step is to apply for a Certificate of Eligibility by completing VA Form 26-1880. You will need to send this form in, along with a Statement of Service from your commanding officer.

To simplify the loan application process, organize all of your financial statements so that the lender will be able to pre-qualify you for the home loan. It would also be a good idea to check your credit report to verify that there are no mistakes tarnishing your credit score. Once you have submitted these to your lender, the loan will be closed like almost any other loan. Simply make sure that the lender completes a Counseling Checklist for Military Homebuyers as it is necessary for active duty military personnel.