VA Mortgage

Do I Qualify For a VA Home Loan?

While there are far less restrictions for qualifying for a VA loan in comparison to other loan options, there still are a few stipulations. To decide if you will qualify for a VA loan, ask yourself these three questions:

  1. Are you a current or ex military personnel, or a surviving spouse of one?
  2. Do you have no past record of loan defaults within the last 12 months?
  3. Have you not declared bankruptcy within the last two years?


If you answered “yes” to all three of these questions, chances are that you qualify for a VA loan. Contact one of our home purchase experts at (702) 769-1791 or apply online to get started.


Why Should I Get A VA Loan?

VA loans are fully backed by the government, and offer a variety of advantages for your home purchase or mortgage refinance. Here are some advantages of VA Loans:

  • No Money Down
    With a VA home loan, you don’t have to include a down payment if you can’t afford to, unlike conventional loans which typically require at least 10-20% down.
  • No Private Mortgage Insurance (PMI)
    Typically, private mortgage insurance (or PMI) normally adds 0.2-0.9% of expenses to your monthly mortgage payments when you put less than 20% down. With a VA loan, you’re not required to have PMI, saving you more money on your home loan.
  • Fewer Restrictions
    As we mentioned above, VA loans come with fewer restrictions, making it easier for you to qualify for one. With a VA loan, you’re allowed a higher debt-to-income ratio and have more leniency with your credit score.
  • Easy Refinance
    Due to the VA Streamline Refinance Loan Program, you are able to refinance your VA loan to a lower rate with less funding fees than a regular refinance.