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Frequently Asked Questions

Some common questions we get about the VA Loan.

To qualify for a VA loan, you have to meet one or more of the following:

  • You served 90 consecutive days of active service during wartime
  • You served 180 days of active service during peacetime
  • You have 6 years of service in the National Guard or Reserve, or served 90 days under Title 10 or Title 32 orders
  • You are a spouse of a service member who died while serving or due to a service-related disability

Learn more about eligibility >

Yes and no. VA loans are intended for primary residence purchases only. They cannot be used to buy investment properties or vacation homes. However, if you intend to occupy the property for at least a year, then this would be an acceptable use of the VA loan.

An example would be the purchase of a duplex property. If you purchased the property and lived in one side of the duplex, you could then move one year later (or if you have a qualifying life circumstance) and keep the property as a rental. In this situation, the home was not originally an investment, it was a primary residence. This is an acceptable property for purchasing with the VA loan.

Yes and no. VA loans are intended for primary residence purchases only. They cannot be used to buy investment properties or vacation homes. However, if you intend to occupy the property for at least a year, then this would be an acceptable use of the VA loan.

An example would be the purchase of a duplex property. If you purchased the property and lived in one side of the duplex, you could then move one year later (or if you have a qualifying life circumstance) and keep the property as a rental. In this situation, the home was not originally an investment, it was a primary residence. This is an acceptable property for purchasing with the VA loan.

Read more about the funding fee >

Are you exempt from the funding fee? Talk with our VA loan specialists to see!

While VA loans can be used for various property types, including single-family homes and condominiums, they cannot be used for unapproved properties such as fixer-uppers or income-generating farms. The property must meet the VA’s Minimum Property Requirements (MPRs) to ensure it’s safe, sanitary, and structurally sound.

Learn more about VA eligible properties >

Yes, active-duty military members stationed overseas can use a VA loan to purchase a home in the United States. The key is to work with a lender experienced in handling long-distance transactions. It’s crucial to plan ahead, considering potential time zone differences and utilizing technology for virtual tours, document signings, and communication.

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2024 VA Home Loan Guide

VA Guide

This short guide is designed to provide you the most important details of the VA Loan in an easy-to-use format. Print it out and read at your leisure.

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