You have sacrificed to keep our country safe. It's our turn to honor you. Every day we strive to provide you with world-class service while adhering to the highest standards of compassion and commitment, excellence and professionalism, along with integrity and guidance.

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Who is eligible for a VA loan?

Active duty military, military veterans, National Guard, Reserve servicemembers, and eligible surviving spouses may be able to purchase their dream home using the VA’s home loan program.  It is critical for you to have a team of dedicated and knowledgeable real estate agents and mortgage brokers, like The VA Lady, who understand and care about your ability to use your veteran benefits.

 

Am I required to pay my real estate agent to help me purchase a home?

On June 18, 2024, the U.S. Department of Veterans Affairs (VA) announced a temporary policy update that allows eligible veterans to pay real estate agent commissions when purchasing a home with a VA mortgage. The policy change went into effect August 10, 2024 and will remain in place until further notice. The VA's goal is to ensure that VA buyers are not disadvantaged by new real estate rules. As a result of these changes, it is the sole discretion of the seller whether or not they will pay compensation to your real estate agent. These terms must now be negotiated and disclosed before viewing a property. 

 

Can I have more than one VA loan at the same time?

If you have previously used your VA home loan benefit and sold that property, you can purchase another home using your VA benefits up to the conforming loan limit for your area. If you currently have an active VA loan, you can purchase an additional owner-occupied property using your remaining entitlement. 

 

Can I use my VA to purchase a rental property?

You can use your benefit to purchase an owner-occupied, multi-family investment property between 2-4 units.  The VA loans have favorable terms, including no down payment or mortgage insurance premiums. These loans are not approved by nor is money loan by the Department of Veteran Affairs.  The VA guarantees a portion of a loan to help you buy a home for your own personal occupancy.

 

Can I get money to help modify my home if I have a disability?

Yes! Under the Specially Adapted Housing Grants, certain severely disabled veterans and military personnel can receive grants to adapt or acquire suitable housing. 

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Do my VA homebuying benefits expire?

No. VA homebuying benefits and home loan entitlement, generally don't expire. Veterans who qualify for a VA loan can use the program multiple times and the benefit can be restored if needed.

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Is there a maximum amount I can purchase using my VA benefits?

Effective 2020, VA loan limits were eliminated for active-duty military and veterans who have full VA loan entitlement. This means your purchase price is restricted by the amount you qualify for and maximum lender determined amounts. However, loan limits apply to mortgage applicants who have defaulted on a VA loan or have other active VA loans.

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How long do I have to own my home before I can sell it?

If you want to sell your house with a VA loan, there is no minimum time limit that you must to wait. However it is a  good idea to make sure you can make enough money from the sale to pay off the remaining balance of your mortgage.

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Why do some sellers dislike VA loan?

Unfortunately, many sellers believe an offer with a VA loan won't close or will take longer to close and they will be required to make repairs or lower their sales price due to strict VA property requirements.  While there are property condition requirements, it is to protect the veteran for purchasing a home and needing to make immediate and costly repairs. 

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Do I get my husband's VA home eligibility benefits if he dies?

If you're the surviving spouse a service member who died in the line of duty or the survivor of a veteran who died from a service-related injury or illness, you may be able to get a eligible. You need to contact your local VA office and speak to a rep about VA Dependency and Indemnity Compensation (VA DIC).

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Can I purchase a vacation home or land using VA?

The VA wants veterans using this program for primary residences. You can't purchase or build a vacation home or an investment property, 2-4 units, that you do not intend to occupy one of the units. New construction loans are available, but veterans can not  purchase land with the intent to build a home some day.​​​