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Veterans and home buying
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When can you apply for a VA home loan?

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You’re eligible to apply for a VA home loan at any time during or after your time in the military. However, factors like length of service may impact whether or not you qualify.

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True or false: Using a VA loan to purchase your home limits your options.

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False.
You will still be able to shop around to different lenders to get the best rate.

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Key Takeaways

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The first step you should make is carefully evaluating whether you’re ready to buy a home. If you are, using a VA home loan may make the process easier and more affordable.

  • Look into your eligibility for a VA home loan; it’s easier to qualify, the terms are better and they usually don’t require a down payment
  • You may want to wait a few years if you’re in debt or just starting an entry-level job
  • If you’re using a VA loan to buy your home, find a real-estate agent who has experience with them
  • A VA home loan isn’t the only option for veterans—look into an FHA 203K renovation loan for a fixer upper or FHA loan if you’re on a tighter budget
  • Don’t forget about closing costs when determining your overall budget