The Ultimate Guide to Veterans Home Loans

Guide to Veterans Home Loans

In 1944, the United States government created a veterans home loans program to assist returning service members in purchasing homes.

Since then, over 21 million veterans and their families have benefited from the program. In 2015, the total number of veteran home loans was 631,142. That number represents the highest total in the history of the program, surpassing the previous record of 630,000 set in 2013. This map shows the program’s history on a state-by-state basis.

Here’s what you need to know about securing veterans home loans:


To secure a VA loan, certain conditions must be met. According to Veterans United Home Loans, you may be eligible for a VA home loan if you meet one or more of the following criteria:

In order for the VA loan to be approved, the applicant must have a Certificate of Eligibility (link here), which verifies to the lender that you are eligible for the VA loan.

A loan specialist can help lead the process of securing this certificate, which doesn’t need to be completed until the loan process officially begins. A reliable income is also a crucial part of being approved for veterans home loans.


VA loans offer multiple benefits for returning service members. Sometimes home sales can be delayed while buyers save money to put toward down payments. With veterans loans, buyers needn’t worry, as no payment is required, allowing veterans to finance the total cost of their homes.

This loan also allows the buyer to avoid paying for private mortgage insurance. Without a downpayment of 20 percent or higher, PMI becomes an added monthly cost. When the 20 percent threshold is reached through mortgage payments, the PMI can be removed from the payment.

With veterans home loans, PMI is never included in the payment. This can save the buyer anywhere from $100-400 per month if the house costs between $100,000-500,000.

There’s also a benefit for interest rates. Veterans home loans can offer interest rates that are lower than the average, sometimes by as much as one percent.


If a returning service member purchases a house with a VA loan, they can also refinance their existing loan. This allows the buyer to save money with cheaper rates.

The qualification process for refinancing is similar to being eligible for a VA loan.


If you’re interested in applying for a veterans home loan in North Central Florida, then you’ve come to the right place.

The staff at Chris Doering Mortgage has been successfully qualifying veterans home loans for years. Our team has many years of experience and together we would gladly guide you through the entire process from beginning to end.

Contact us today to qualify for your new home!

352-244-0840 or message us on our website.