Purchasing a Home with a VA Loan

VA Loans are government-guaranteed home loans designed to provide housing assistance to military veterans and their families. Since the passage of the G.I. Bill of Rights in 1944, military servicemen and women have been able to purchase homes with favorable loan terms and government protection.

VA Loans require that applicants meet specific eligibility criteria before approval. If you have been approved for a VA loan and are looking for a home in Austin, contact a real estate professional of The Carvajal Group at 512-419-7770 for assistance with your search.

VA Loan Eligibility

Eligibility for VA loans depends on a variety of factors including:

• Active duty service in the Air Force, Army, Navy, Marines, or Coast Guard
• Discharged from active service after 181 days during peacetime or 90 days during wartime (conditions should not be dishonorable)
• Disability discharge
• Discharge for government convenience (typically requires completion of at 20 months of a 24 month commitment)
• Discharge due to a medical condition unrelated to the individual’s service
• Release from service due to reduction in force
• A physical or mental dismissal deemed unworthy of disability but not related to misconduct

Spouses of servicemen and women who are missing in action or killed in the line of duty may also be eligible for a VA loan. This distinction usually applies to individuals who have not remarried and is resolved on a case-by-case basis.

Contact Us

If you have qualified for a VA Loan and are looking to purchase a home in the Austin area, contact an Austin real estate expert of The Carvajal Group at 512-419-7770 today.