Tag Archive for: va loan qualifications

What Are The Qualifications For A VA Loan?

A VA Loan (Veterans Administration Loan) is a mortgage that the VA guarantees for veterans. Some of the basic qualifications for a VA loan include adequate income, decent credit, and a Certificate of Eligibility. VA loans have flexible underwriting and down payment guidelines for veterans and their spouses only. VA loans also have low-interest rates, no mortgage insurance, and no down payment requirements for most veterans. VA loans are only eligible for property that is used as a personal occupancy. As a general rule, VA loans are not for buying a second property.Read More