VA Loans for Reservists and National Guard Members
A VA loan is an incredible benefit for veterans or active duty service members. Unfortunately, many people who are eligible to receive this benefit aren’t aware they qualify, and most of those who aren’t aware are found in the Reserve and National Guard.
- Served six years in selected reserve and were either
- honorably discharged
- transferred to Standby Reserve, or an element of the Ready Reserve other than the Selected Reserve, after honorable service
- Served in the Selected Reserve for more than six years
- Served in active duty for more than 90 days during a wartime period
- Discharged or released from active duty for a service-related disability
The main difference for Reservists and National Guard members seeking a VA loan can be found in the funding fee, or the cost associated with obtaining a VA loan that helps ensure that the loan continues to require no down payment and no monthly mortgage insurance.
|Down Payment||First Time Use||Subsequent Use|
|5% or more (up to 10%)||
|10% or more||1.5%||1.5%|
|First Time Use||Subsequent Use|
|VA Loan Military Reserves National Guard Featured|