10 Things to Know
Before Using Your
VA Home Loan Benefit
Most veterans leave thousands of dollars on the table because they don't know how VA loans really work. This free guide changes that. Plain English, no fluff.
- Ask if your lender has attended an official VA Lender Conference. Most haven't, and it shows
- The seller can pay off your debt to help you qualify and even help break your lease
- Two automated systems plus manual underwriting: a good lender exhausts all three before saying no
- Condos, manufactured homes, multi-family units, modular homes. Your VA loan covers far more than you think
A Sneak Peek at the 10 Things
Each tip is explained in plain English, no mortgage jargon. Here's what you'll learn:
Use a Lender That Specializes in VA Loans
VA guidelines have many nuances. Not all loan officers understand them or do them well. Learn what to look for and the questions to ask before you commit to a lender.
There Are 3 Ways to Get Your VA Loan Approved
Automated systems, manual underwriting, and a third path most veterans never hear about. A good lender exhausts all three before saying no. Make sure yours does too.
Confirm Your Military Service Qualifies
Not every veteran automatically has VA loan eligibility. Discharge type, length of service, and Reserve vs. active duty all matter. Know where you stand before you start.
Little-Known VA Loan Secrets Most Officers Won't Tell You
The seller can pay off your debt to help you qualify. You can use a second job's income after just 1 year. You can even buy a non-VA-approved condo using your VA benefit.
You Can Add a Civilian Co-Borrower
Adding a civilian to your loan can help you qualify for more, and VA guidelines even allow civilians to co-sign who don't plan to live in the home.
The VA Doesn't Set Your Interest Rate. Lenders Do.
Lenders set their own profit margins on VA loans. Rates can vary greatly. Always get a second opinion and consider working with a mortgage broker who can shop multiple lenders.
Beware of Lender Overlays
Lenders can add their own restrictions on top of VA guidelines: higher credit score requirements, extra debt ratio rules, and more. A denial at one lender doesn't mean a denial everywhere.
You Must Intend to Occupy the Home for 12 Months
VA loans are for primary residences. Learn what counts as occupancy, including how a spouse can satisfy the requirement if you're deployed or stationed elsewhere.
More Home Types Qualify Than You Think
Condos, townhomes, manufactured homes, multi-family units, modular homes, dome homes. The VA loan covers a wide range of property types most veterans don't know about.
You Can Buy Even If You're Deployed or at Another Duty Station
A deployed spouse can satisfy occupancy. A Power of Attorney can close the deal. Even if you're stationed in another state, there are options available to you.
Get the full details on all 10 tips. Free, instant PDF download.