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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.Next question
You will still be able to shop around to different lenders to get the best rate.
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Key TakeawaysPrint version
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