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Your Guide to VA Loans

AAG Salutes America’s Military

VA loans help meet the housing needs of eligible veterans who

have served or are currently serving on active duty. These loans are
guaranteed by the federal government through the Department of
Veteran Affairs.
Caring

How to Qualify for a VA Loan

Borrower(s) can be active duty, or former military, reserves and
Driven guards of the Army, Navy, Air Force, Marines, and National Guard
that meet the VA minimum service requirements

Obtain a Certificate of Eligibility (COE - VA form26-1817) from the VA

Occupy home as primary residence
Ethical
Meet lender credit and income qualification requirements

More than core values… Spouses of military members who died while on active duty or as a
words we live by! result of a service-connected disability may also be eligible

1. Can I get a VA loan for a condo, or 3. What is a Certificate of Eligibility 5. Can I use a co-signer?
just a single-family home? (COE) and how do I get it? Co-signers — also called co-

Yes, you can get a VA loan for a condo, The type of COE you need depends on borrowers because they’re equally
but the VA must approve the condo your type of service: veteran, active liable for the loan — are allowed but
project. The agency maintains a duty service member, current or former only if the co-borrower is a spouse.
database of pre-approved condos, National Guard, etc. To obtain your COE
and if the condo you want isn’t on this yourself, apply online through the VA
list, AAG can work with you to get the benefits portal or by requesting via mail. 6. Can I get a VA loan if I’ve had
condo you want to buy approved. Alternatively, AAG can obtain your COE one before?
for you. The VA requires all VA-approved Yes, a VA loan isn’t a one-time
lenders to include a COE in their loan benefit, so you can get a VA loan
2. Can I pay off a VA loan early? underwriting process, so the fastest way even if you’ve had one for a previous
Yes, you can pay off a VA loan early to get your COE is through our team. home in the past or have enough
without incurring any extra fees eligibility leftover for the new
because there is no prepayment (second) loan amount requested.
penalty on a VA loan. You can pay it 4. What is the max VA loan amount?
off in full, or you can pay it down more The 2019 national VA limit is $484,350 for
aggressively than the normal monthly a single-unit home, but there are certain 7. Do I need to occupy the home
payments require along the way. If exceptions to this for high-cost areas. I’m buying with a VA loan?
you pay the loan down extra along When you apply for a VA loan, AAG can Yes, you must occupy a home you
the way, it doesn’t lower your monthly brief you on the options you qualify for buy with a VA loan as your primary
payment. in your specific area. Jumbo VA loans are residence. VA loans aren’t available
VA Loan FAQs available for high-value homes and offer a to purchase second homes or
maximum loan amount of $2 million.
investment properties.