Many active-duty military members, reserve individuals and veterans seek out VA home loans in order to purchase a new house. With the current state of the housing market, and the amount of houses available for purchase, many current and prior military members are able to get cheap homes at an incredibly low rates. But some spouses also have the opportunity of receiving the benefits of a VA home loan. Unfortunately, many are unsure if they are eligible.
Unmarried spouses of veterans who died while in service or from a service-connected disability have the potential to get a VA home loan. This means if the spouse remarries up to a certain point, they may not be able to purchase a home using this benefit. This also applies to a spouse of a military member who is missing in action or is considered a prisoner of war. There are some stipulations depending on specific dates, and the age of the individual applying.
There are also other individuals who may also be eligible such as those who served in the Armed Forces of a government which was allied with the United States in World War II, members who serve an organization such as the public health service, cadets of the United States military branches, Coast Guard Academy and many others.
There are multiple banks that offer VA loans to Americans. But it is required of an individual to get a certificate of eligibility from the VA before perching a bank. Once an individual receives proof, they will have the opportunity to talk to the bank and start negotiating rates on a home or property of their choosing.