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What is a VA Loan?

Tuesday, June 1, 2021   /   by Mitch Stein

What is a VA Loan?

A VA loan is a mortgage loan guaranteed by the US Department of Veterans Affairs and issued by approved lenders. VA loans help veterans, active duty military, and members and their families purchase homes or refinance their mortgages.
In order to obtain a VA loan, you must have suitable credit, sufficient income, and a valid certificate of eligibility. The home you are purchasing must be for your own personal occupancy, but VA loans can be used to build a home, buy a home or condo in a VA approved project, manufactured home or lot, simultaneously purchase and improve a home, or to improve a home by making energy efficient improvements.
To be eligible you must have been discharged under conditions other than dishonorable and meet qualification requirements which can be obtained from the VA. The spouse of a veteran can also apply for a VA home loan under certain conditions. To find out if you meet the qualifications of a VA loan, contact the US Department of Veterans Affairs.
If you have any questions relating to buying or selling a home, please give us a call at 909-255-1070.

Mitchell Stein License# 0208163
Stein Team Realty - Keller Williams College Park
Mitchell Stein Dre# 02081632
2440 W Arrow Route #5C
Upland, CA 91786
DRE# 01885348

Based on information from California Regional Multiple Listing Service, Inc. as of May 22, 2022. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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