A veteran interested in a VA home loan should first look into the program, which offers no down payment and may waive monthly mortgage insurance and limit closing costs. The majority of VA loans can close within 45 days, though the timeline varies depending on the appraisal, repairs required, and underwriting process. A lender will assess the veteran's debt-to-income ratio which should be under 41% for approval, though some lenders allow higher ratios. Length of required active duty depends on era of service but is typically 24 months or 90 days including discharge status.