Customized Home Loan Solutions for Veterans

VA home loans were created by the U.S. government in 1944 to assist returning military service members in purchasing homes. VA loans are partially guaranteed by the federal government and provide unique and valuable benefits to service members.

  • No down payment
  • Higher loan value
  • No private mortgage insurance
  • Limit on closing costs
  • Option for seller to pay closing costs
  • Possible VA assistance if you have difficulty with payments
  • No penalty fee for early payoffs

VA Home Loan Eligibility Requirements

To obtain a VA home loan, an applicant must obtain a Certificate of Eligibility.

Eligibility Requirements
Qualifying Event Active Duty Veteran
Any Gulf War 24-Month Rule Post-Vietnam Vietnam
Active Duty Dates Any 8/2/1990 - Present 9/8/1980 - 8/1/1990* 5/8/1975 - 9/7/1980** 8/5/1964 - 5/7/1975***
Qualifying Event Veteran
Post-Korea Korean War Post-WWII WWII National Guard & Reserve (Gulf War)
Active Duty Dates 2/1/1955 - 8/4/1964 6/27/1950 - 1/31/1955 7/26/1947 - 6/26/1950 9/16/1940 - 7/25/1947 8/2/1990 - Present
Active Duty Service 181 continuous days 90 total days 181 continuous days 90 total days 90 days active service
Spouse of a Veteran
  • Unremarried spouse of a veteran dying in service or from a service connected disability
  • Spouse of a service member missing in action or a prisoner of war
  • Surviving spouse who remarries on or after age 57, and on or after 12/16/03****
  • Surviving spouses of certain totally disabled veterans whose disability may not have been cause of death
National Guard and Reserve
  • Six years of service in the Selected Reserve or National Guard, and
  • (1) Honorable discharge; (2) Placed on the retired list; (3) Transfer to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after honorable service; or (4) Continued service in the Selected Reserve
Others Eligible
  • Certain U.S. citizens with military service for U.S. World War II allies
  • Merchant seaman with World War II service
  • Academy cadets or midshipmen (Army, Air Force, Navy, Coast Guard)
  • Certain public health service officers or officers of the National Oceanic & Atmospheric Administration
  • Not enough service but discharged due to hardship, convenience of the government, reduction-in-force, certain medical conditions or a service-connected disability
*Officer start date: 10/17/1981 **Officer end date: 10/16/1981 *** Start date for service in the Republic of Vietnam: 2/28/1961 **** A surviving spouse remarried before 12/6/03 and reaching age 57, must have applied by 12/15/04 for eligibility.
Source: U.S. Department of Veterans Affairs

Once you are certified, you may apply to use the guarantee on these financing and refinancing opportunities:

  • Purchase or build a residence
  • Purchase a condominium or duplex
  • Purchase and improve a residence
  • Purchase a manufactured home/lot
  • Refinance an existing home loan
  • Install energy improvements

VA Fixed-Rate Home Loans

VA fixed-rate home loans offer fixed monthly payments that will never fluctuate, for the next 15 or 30 years, depending on the length of loan you choose. This dependable choice appeals to long-term owners ready to settle in one place for an extended period of time. The 15-year fixed-rate loan is a great option for service members who want to build equity in their home quickly.

Not sure what type of loan is right for you?
Contact a Mutual of Omaha Mortgage home loan expert.

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