Who Qualifies for VA Home Loans?

VA loans are only available to qualified military veterans, active duty military members, retired military veterans, reserve soldiers, and surviving spouses and their families who have proven their entitlement.

Get the Details You Need for VA Loan Eligibility

These loans are only available to the above listed individuals for their own primary residences and cannot exceed a $2,000,000 loan limit. However, If you moved from a residence with VA entitlement still remaining, you are able to do a VA IRRRL (Interest Rate Reduction Refinance Loan) to reduce your interest rate.
VA guidelines will change from time to time and we can talk about your VA loan eligibility when you connect with us. If you are PCSing to JBLM or anywhere in Washington State, we have a step-by-step guide, Planning Your PCS that will help things go as smoothly as possible for you and your family.

Why is a VA Loan Better?

Compared to conventional loans, VA loans have a lot of advantages, including no down payment, and no private mortgage insurance (PMI) requirements. With VA loans, you also have the ability to get a loan with a higher debt-to-income ratio. VA loans often have lower interest rates when compared to conventional loans as well. 

How Do VA Loans Work for Manufactured Homes?

At West Coast Veterans, a VA Home Purchase can be used to acquire a stick-built property or a manufactured home. If you decide you want to purchase a manufactured home, the age requirement for VA loan eligibility of these homes is from June 1976 or newer in age, double-wide (in some cases a single-wide will qualify), on real property, and must be in above average condition.

There are some other challenges and complications that come with Manufactured Homes, but we’ve been providing manufactured home VA loans for a very long time. We’ll help you understand VA loan eligibility for mobile and manufactured homes, and show you how they work if you decide to go that route.

VA Cash Out Refinancing

If you already have a VA Home Loan, you can do a VA Cash Out Refinance to take funds for anything from:

  • College tuition
  • Debt consolidation
  • Home improvements
  • Investing
  • Anywhere you need available capital

From time to time the banks may cap you at the amount of funds you can finance, currently they fluctuate at 90% to 100% of the value of your home. When you contact us, we’ll update you with what is happening currently in the markets.

What is a VA Irrrl Interest Rate Reduction Refinance Loan?

With an IRRRL, you can lower your rate with no appraisal and no income documentation and replace your higher interest loan with the lower-rate loan. Streamlines can be done on your primary residence or a residence you moved from with VA entitlement. 

PCSing to JBLM, Kitsap Naval Base, Everett Naval Base or Another Washington Military Base?

Don’t forget to check out our PCS Planning page so you can see what steps you’ll want to take before you’re ready to buy a home at JBLM, or any military base in Washington State.

Need More Information on VA Loan Eligibility?

If you’re a veteran or you’re already here at your duty station, you can go right to the home page and click on APPLY NOW to get started on a full application. Make sure you add your middle initials and try to include all the necessary data to complete your application. This also helps us to have all the necessary information we need to help you get on your way to a fast pre-approval.

For information on qualifying for any of the VA home loan programs including manufactured home purchases please give us a call today. We work evenings and weekends so don’t have to worry about us keeping banker’s hours. Our priority is getting you the help and information you need right away, so you have all the details you need on VA loan eligibility.

Find Out More About Why VA Loans Are Better for Those That Are Eligible

Call Us Today at (360) 250-3400

Tim Barlow VA Loan Officer in Lacey, WA

Tim Barlow, President/ Hard Worker/ and VA Home Loan Specialist since 2001