VA loans provide several benefits for eligible veterans including $0 down payment, no private mortgage insurance requirement, and favorable loan terms since the Department of Veterans Affairs guarantees the loan. To qualify, a veteran must have served a minimum number of days depending on wartime or peacetime service, and veterans with dishonorable discharges are ineligible. VA loans also have funding fees paid to the VA by the veteran that vary depending on the veteran's disability status and time of service.

1. VA Loans

2. • To be eligible for a VA Loan, you must
have served for at least 90 consecutive
days of wartime service; 181 days of
peacetime service or at least 6 years of
service with the National Guard or
Reserves.
• A veteran who has been dishonorably
discharged cannot apply for a VA Loan.
• A veteran who has been dishonorably
discharged cannot apply for a VA Loan.
• A veteran who has been dishonorably

3. • VA Loans include $0 money down.
• The Department of Veterans Affairs
guarantees the loan, protecting the lender
from loss if the buyer defaults, allowing
lenders to provide loans with favorable
terms.
• The Department of Veterans Affairs
guarantees the loan, protecting the lender
from loss if the buyer defaults, allowing
lenders to provide loans with favorable
terms.
• The Department of Veterans Affairs

4. • VA Loans have a Funding Fee paid to
the VA to allow future returning service
members to buy a home with the
services of the program.
• Funding Fees vary and do not exist for
veterans with service-related injuries or
disabilities.
• Funding Fees vary and do not exist for
veterans with service-related injuries or
disabilities.
• Funding Fees vary and do not exist for

5. • While waiting to be approved for a VA
Loan, avoid taking on new debt.
• The VA places limits on closing costs and
usually allows sellers to cover many or all
of these costs.
• The VA places limits on closing costs
and usually allows sellers to cover many
or all of these costs.
• The VA places limits on closing costs
and usually allows sellers to cover many
or all of these costs.

6. • VA Loans do not require purchasers to
buy private mortgage insurance.
• A qualified Phoenix VA Loan lender can
help you determine the amount of a VA
Loan limit in any given area.
• A qualified Phoenix VA Loan lender can
help you determine the amount of a VA
Loan limit in any given area.
• A qualified Phoenix VA Loan lender can
help you determine the amount of a VA
Loan limit in any given area.

7. This information was provided by
www.eddiemortgage.com