Today's Rates


The VA Home Loan

One of those special perks of being in the military, the VA Home Loan can be your ticket into that “exclusive” club called home ownership. 

Beware though, the bouncers at the door (Veteran’s Affairs) are a picky bunch. They’ll only let you in if you meet the VA loan requirements.

Take a look at the basics below.

VA Loan Eligibility

Being eligible for a VA home loan depends on when and in what capacity you served: 

  • Service Members: 90 continuous days of active-duty service

  • Veterans, National Guard, and Reserve: Minimum active-duty service requirements depend on when you served and can be found here

You can request your Certificate of Eligibility to show your lender on eBenefits.

VA Loan Entitlement

What is VA Loan entitlement? It is the amount the Department of Veteran’s Affairs will guarantee for your loan. There are two types: full entitlement and diminished entitlement.

You have full VA loan entitlement if you’ve never used your VA home loan benefit, if you paid off a previous VA loan in full and sold the property, or if you have used your VA home loan benefit but had a foreclosure or compromise claim and repaid the VA in full. 

Diminished entitlement usually means you have an active VA loan which will limit how much you are able to borrow without a down payment.

Talk with one of our WeVett VA Loan experts at (316) 669-5272 for questions about your particular entitlements and how it affects your purchasing power. 

VA Loan Limits

As of Jan. 1, 2020, if you have full entitlement for your VA home loan, meaning you have no other outstanding VA loans, there is no limit on how much you can borrow without a down payment. 

If you have diminished entitlement, your lender will calculate your specific loan limit. A loan limit does not restrict how much you can borrow, it only limits how much you can borrow without a down payment.

VA Loan Pre-Qualification

Getting pre-qualified for a VA loan is a non-binding step you can take with multiple lenders to compare rates and terms. This step isn’t mandatory, but it can give you a realistic idea of your price range while scrolling through dream homes online. 

Be prepared to answer questions about your desired loan amount, gross monthly incomes, assets such as savings accounts and retirement funds, any previous bankruptcies, and any monthly liabilities you may have such as child support.

Pre-qualification only requires a soft credit check and does not affect your credit score.

VA Loan Pre-Approval

When you get pre-approved for a VA home loan, that shows you are serious about buying a home. Pre-approval isn’t a guarantee of financing, but you’ll know what you can afford at your new PCS location. Many sellers and real estate agents will make decisions based on pre-approval status, so it is often wise to have this prior to making an offer on a home.

Lenders will pull your credit report during this stage and verify your information. The VA pre-approval typically lasts for 60 to 90 days. 

Ready to get the process rolling for your VA Loan? Get started here. Or contact us at (316) 669-5272.

How can we help you?

Learn about the VA loan.

Get a quote for a loan.

Refinance my loan.

Talk to a VA Loan specialist.

Skip to content