Some benefits may only be used once. You know this if you've used a Groupon recently. Coupons, certificates, favors - things that bring benefits often expire after redeemed one time. That's not the case with a VA loans Unlimited Use benefit though. If you've served in the military and are eligible for a VA loan, your VA loan benefit will last you the rest of your life.
How many times can I use a VA loan?
As long as you're moving into a primary residence, you can use your VA loan each time you move. (So - if you're buying rental property or a second home, you need to look into other home loan options.) This unlimited use of a VA loan is a huge benefit to our veterans - these loans often bring many benefits to those who use them. VA loans require ZERO down payment - something not common in home loans anymore. Plus, they are more lenient on credit requirements, they do not require mortgage insurance and the loans may often be locked into rates that compete with the best on the market. If you're eligible for a VA loan because of your military time, don't pass up this opportunity. Use it each time you move your primary residence. Oh - and VA loan refinancing is available, too.
Am I eligible for a VA Loan?
Many who have served in our Armed Forces are eligible for the VA loan benefit. You may either be currently serving or have received an honorable discharge. You may also redeem your loan benefit if you served many decades ago - the VA benefit never expires.
Check your VA loan eligibility to determine if you should head down this path.
Make sure you have your DD214 if you're not currently on active duty.
Give me a call to help walk you through the process and get your VA loan started. I assist active and non-active military who qualify living in Arizona, Missouri, Kansas, Nebraska or Virginia.
Call the VA Loan Expert at (816) 268-4025 to find out more about your VA Loan Unlimited Use.