Most military veterans and reservist are eligible to apply for a VA loan. Spouses of military members who died in active service or from a service related condition are also eligible.

Active Duty members who served for at least 6 months of service may be eligible. Depending on your time served and when it was you may even be eligible with less time than 6 months.

Reservist and National guard members are generally eligible after 6 years of service and some qualify if they where sent to active duty during there service time.

Consumer Intelligence has linked up with a handful of lenders and certified military housing specialist to better help you understand your benefits.

f you are purchasing a new home a VA loan may be where you get the best bang for your buck. The Veterans Administration truly offers one of the only NO MONEY DOWN mortgages in the country. This is huge considering in many instances VA home loans carry lower interest rates than conventional or other government financing.  

If you have heard of mortgage insurance and don't understand don't worry the VA does not require mortgage insurance.

Using your VA loan to refinance an existing loan is usually quick and easy. The veterans administration has made easy underwriting guidleines for lenders to follow which make it very easy for you to save money.

With interest rates near historic lows the Veterans Administration has continued to offer the Interest Rate Reductions Refinance loan that allows you to refinance regardless of your homes value and with no appraisal or income requirements. This has been known to save people big the average savings for a veteran that utilized this program in 2016 was near $2700 annually (per usaa). 

Historically it has been difficult to access your homes equity for home improvements, investments, or consolidating high interest rate debt. The reason for this is banks get really cautions when they are lending somebody more cash then they currently owe on a home. With the Veterans Administration guarantee on your loan this has never been easier. The VA will allow you to access up to 100% of your homes equity to be used for consolidating debt, home improvements, investments, or any other desired need you may have. 

Just like anything else these benefits may not last forever. If you are thinking about buying a home with no money down, lowering payment on your existing home loan, or accessing the equity in your home may help click below to start a free VA Benefits Consultation. 

The Veterans administration has been very relaxed with there credit guidelines. Remember you served our country you deserve service regardless of what has happened in the past with your credit.