VA Housing Loan: 5 Facts To Know

A VA housing loan is a mortgage that is guaranteed (insured by) the Veterans Administration. Millions of veterans in the United States are eligible for a VA housing loan. Here are five important facts to remember if you are a veteran considering a home purchase.

  1. To be eligible for a VA housing loan, veterans must have served on active duty. A total of ninety days of service are required during wartime. The requirement is 181 consecutive days during times of peace.

  2. Veterans are eligible for loans without down payments until 2011 due to the Public Law 110-389.

  3. Your VA housing loan will not automatically cover the closing costs, which range from 3%-5% of the property value.

  4. Any itemized fees and charges related to the purchase of a property, such as inspections and appraisals may or may not be the responsibility of the veteran. See your local VA office for a list of reasonable and customary fees veterans are allowed to pay.

  5. While poor credit within the last 12 months may be a deterrent in loan approval, VA housing loans have been given to veterans who lack established credit.

For more information about VA housing loans, visit