Show All Answers

1. I used my Veteran Affairs (VA) guaranteed home loan benefit years ago. Can I renew my eligibility and purchase another home?

Your entitlement to a VA guaranteed home loan can be restored if you sell the home you previously bought and pay the VA loan in full, allow a veteran to assume your home loan and substitute his or her entitlement for yours, or if you pay your VA loan in full and exercise your 1 time option to have your entitlement restored, even though you still own the home.

2. Can a non-veteran acquire a home that has been acquired by Veteran Affairs (VA) after foreclosure of a VA guaranteed loan?

Yes. These homes are available for resale to both veterans and non-veterans.

3. Does Veteran Affairs (VA) home loan entitlement provide cash to the veteran?

No. The amount of entitlement relates only to the amount the VA will guarantee the lender against loss.

4. Can I use my VA-guaranteed home loan to buy land I plan to build a house on in the future?

A VA guaranteed loan cannot be used to buy undeveloped land unless it is part of a package that includes the building of your home.