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Loan Programs

Veterans Home Loans

Honoring service through home ownership.

The Veterans Administration (VA) partners with lenders like Oakstreet Mortgage to make home ownership more accessible to those who have served our country. The VA Home Loan Program offers a range of exclusive benefits for eligible service members, veterans, and their surviving spouses.

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Program Benefits

VA Home Loans provide several distinct advantages over conventional mortgage options:

  • No down payment requirement: Qualified borrowers can purchase a home without the need for a down payment.
  • Competitive interest rates: VA loans typically offer lower interest rates than conventional financing, which may lead to significant long-term savings.
  • Limited closing costs: The VA limits the types and amounts of closing costs veterans are required to pay.
  • No private mortgage insurance (PMI): Eliminating PMI reduces monthly payments and overall loan costs.
  • Reusable benefit: VA loan eligibility can be used multiple times throughout the borrower’s lifetime.

Eligibility

Eligibility for a VA Home Loan is based on military service and discharge status, among other criteria.

  • Active-duty service members: Must have completed a minimum of 90 consecutive days of active-duty service.
  • Veterans: Requires at least 90 days of wartime service or 181 days during peacetime. Veterans with certain discharges other than dishonorable may still qualify, subject to review.
  • National Guard and Reserve members: Completion of at least six years of service, or 90 days served under Title 32 orders, with at least 30 consecutive days.
  • Surviving spouses: Loan options available for the unmarried spouse of a veteran who died while in service or as a result of a service-related disability. Certain exceptions may apply for remarried spouses.

How to Apply

Getting started on your Veterans Home Loan is straightforward. Contact Oakstreet Mortgage or submit an online application.

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