Home Loan

The Veterans Affairs (VA) does not directly give loans to veterans and service members. Instead, the VA guaranties a percentage of the loan, which allows veterans, service members, reservist, and unmarried surviving spouses to find competitive interest rates, usually without a down payment. However, manufactured homes do require a down payment, as well as home, which has a purchase price greater than the estimated value.

Note: The VA will make direct loans to Native American veterans, who wish to buy, build, or improve a home on tribal lands, or an eligible disabled veteran, who qualifies for a Special Adapted Housing grant.

Loan Guaranty Uses

  • Buy a home or condominium
  • Construct a new home
  • Improve or repair a home
  • Refinancing
  • To purchase a manufactured home and/or lot
  • To purchase and improve a lot in order to place an owned and occupied manufactured home on
  • Refinancing a manufactured home in order to purchase a lot

Note: VA will not give loan guaranties to purchase businesses or farms (unless a farm house is included, which will be occupied by the person receiving the guarantee)


Unless the veteran was discharged for a service connected disability, he/she must have received a discharge under honorable conditions. The veteran must also have met certain time in service requirements.

  • WW II - September 15, 1940 through July 26, 1947 (90 days)
  • Post WW II - (181 days)
  • Korean War - June 27, 1950 through January 31, 1955 (90 days)
  • Post Korean War - (181 days)
  • Vietnam War - August 4, 1964 through May 7, 1975 (90 days)
  • Post Vietnam War - May 8, 1975 through September 7, 1980 (181 days)
  • 24 Month Rule - September 9, 1980 to present (2 years)
  • Reservist and National Guard have different service requirement. They are eligible if the were activated after August 1, 1990 and served 90 continuous days of active duty
  • Members of the Select Reserve are eligible after 6 years of honorable service

Eligibility of Non-Veterans/Service Members

  • Unmarried spouses of veterans/service members who died on active duty
  • Surviving spouses who remarry after the age of 57
  • Spouses of active duty service members listed as Missing in Action (MIA) or Prisoner of War (POW) for more than 90 days
  • U.S. citizen who served in the armed forces of an Allied government during WW II