This weekend, we honor the brave men and women who have selflessly served our country. Veterans form an important and cherished part of our society, and when they leave military service, they deserve the respect and care of the society whose freedoms they have protected. They also deserve to live securely and in peace with their families—and as a real estate brokerage, Showcase is privileged to help with that process. We can help veterans and their families coordinate with special homebuying resources, especially the VA mortgage loan. If you’re a veteran in search of a home, here’s what you need to know about the special loan options available to you.

Eligibility Requirements

While the VA serves all veterans, eligibility for a VA loan varies according to type of service. Here’s how it breaks down:

  • Active duty veterans must have served at least 90 consecutive days of active service during wartime or 181 consecutive days during peacetime.
  • National Guard or Reserves veterans must have more than six years of service under their belt, or 181 days if called into active service before those six years are up.
  • Spouses also qualify if married to a service member who died in the line of duty or died due to a service-related disability.
  • Once these requirements are met, you need a certificate of eligibility, which can be downloaded through the VA website and mailed into the VA office.

Mortgage and Mortgage Assistance

One of the conveniences of the VA Loan is that there’s no mortgage insurance no matter how little you put down. Buyers pay a one-time funding fee that varies according to type of service:

Active Duty: 2.15% of the loan amount (the fee is reduced to 1.25% if you make a 10% down payment.)
Reserves and National Guard: 2.40% of the loan amount.
Subsequent Use:  3.3% for each time the VA loan is used thereafter. The VA entitlement may be restored for multiple uses as long as entitlement remains.
Disabled Veterans: VA Funding Fee is waived for those eligible veterans with a disability rating of 10% or more.

If for any reason you cannot pay your mortgage, the VA will negotiate with the lender on your behalf. Their financial advisers will work with you to structure repayment plans and explore other foreclosure alternatives — you can even use VA home-loan benefits up to two years after bankruptcy or foreclosure.


From everyone at Showcase, we’d like to wish Marion County a safe, happy Veteran’s Day, and to thank all of our veterans whose courage and selflessness make our country great. We’re proud to call you our friends and neighbors!

For more information about VA loan programs, please visit Veterans United, our preferred full-service home loan specialists for veterans.

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