Why VA Mortgage Programs?

A VA Mortgage is a residential home loan created by veterans and is guaranteed by the US Department of Veterans Affairs. This loan is exclusively available to eligible American veterans or for their surviving spouses.

Since 1944, VA Mortgage loans are loans has helped millions of active-duty and ex-military families become homeowners. At Variant Lending Group, we take pride in serving those who served our country in our armed forces.

The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families.

The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties.

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Chart 1: COE eligibility requirements
Qualifying Event Active Duty Veteran
Any Gulf War 24-month rule Post-Vietnam Vietnam
Active Duty Dates Any 8/2/1990 – Present 9/8/1980 - 8/1/1990* 5/8/1975 - 9/7/1980** 8/5/1964 - 5/7/1975***
Qualifying Event Veteran
Post-Korea Korean War Post-WWII WWII Nat. Guard & Res. (Gulf War)
Active Duty Dates 2/1/1955 - 8/4/1964 6/27/1950 - 1/31/1955 7/26/1947 - 6/26/1950 9/16/1940 - 7/25/1947 8/2/1990 – Present
Active Duty Service 181 cont. days 90 total days 181 cont. days 90 total days 90 days active service
Spouse of a veteran
  • Unremarried spouse of a veteran dying in service or from a service connected disability
  • Spouse of a service member missing in action or a prisoner of war
  • Surviving spouse who remarries on or after age 57, and on or after 12/16/03****
  • Surviving spouses of certain totally disabled veterans whose disability may not have been cause of death
National Guard and Reserve
  • Six years of service in the Selected Reserve or National Guard, and
  • 1) Honorable discharge; (2) Placed on the retired list; (3) Transfer to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after honorable service, or (4) Continued service in the Selected Reserve
Others eligible
  • Certain U.S. citizens with military service for U.S. WWII allies
  • Merchant seaman with World War II service
  • Academy cadets or midshipmen (Army, AF, Navy, Coast Guard)
  • Certain public health service officers or officers of the National Oceanic & Atmospheric Administration
  • Not enough service but discharged due to hardship, convenience of the government, reduction-in-force, certain medical conditions or a service-connected disability
*Officer start date: 10/17/1981 **Officer end date: 10/16/1981 *** Start date for service in the Republic of Vietnam: 2/28/1961****A surviving spouse remarried before 12/6/03 and reaching age 57, must have applied by 12/15/04 for eligibility.

Additionally there are services that may be offered to veterans in danger of defaulting on their loans. VA home loans are available to military personal that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action.



It is very important to know and identify if you are one of those eligible for a VA mortgage. Eligible borrowers should have a Form DD-214, that should specify entitlement. Most National Guard and other active duty members are said to be eligible after their 90 days of service. To obtain a VA home loan, an applicant must obtain a Certificate of Eligibility.


Unlike other loans, VA mortgages do not take a classic approach of calculating borrowing capacity. Their residual income approach to calculating affordability makes the most important requirement the borrower’s ability to repay the loan.

If you are a veteran and VA eligible, Variant Lending Group can help you maximize your benefits with a VA mortgage.

Advantages of a VA Mortgage

VA Mortgage require $0 down payment. That is the great advantage of this loan. With a VA mortgage, sellers can pay all closing costs as well. VA mortgages also have no monthly mortgage insurance premiums. This translates into low payments.

One-Time VA Funding Fee

Instead of mortgage insurance, the Veterans Administration charges borrowers a one-time funding fee. Disabled veterans may be waived of this fee. The amount of the funding fee varies, based on down payment.

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Variant Lending Group offers a variety of home loans to fit your specific financial situation.

There are other types of loans that are less commonly known to the public yet can be made available to some clients on occasion. To find out more about what types of other loans we offer or that you qualify for, please contact us so we can assist you.