top of page
My Home Group

VA HOME LOAN 101

Module 1

What Is a VA Home Loan?

​

A VA home loan is a mortgage program created to help eligible veterans, active duty service members, members of the National Guard and Reserve, and certain surviving spouses become homeowners.

Rather than lending money directly, the U.S. Department of Veterans Affairs guarantees a portion of the loan made by approved private lenders. That guarantee reduces the lender's risk and allows qualified borrowers to access benefits that are often unavailable with other mortgage programs.

Depending on your eligibility and your lender's requirements, those benefits may include no required down payment, no private mortgage insurance (PMI), competitive interest rates, and more flexible qualifying guidelines.

The VA loan program has helped millions of military families achieve homeownership since it was established in 1944, and it remains one of the strongest home financing options available to eligible borrowers today.

Why Veterans Choose VA Loans?

​

For many eligible buyers, the VA home loan offers advantages that can make purchasing a home more affordable.

Some of the most significant benefits include:

  • No required down payment 

  • No monthly private mortgage insurance (PMI) - this saves you money each month. 

  • Competitive interest rates

  • Flexible qualifying guidelines

  • Limits on certain closing costs

  • The ability to reuse your VA loan benefit in many situations

  • The possibility of assuming an existing VA loan, when permitted

Each of these topics deserves a closer look, and we'll explore them in detail throughout the Learning Center.

​

Am I Eligible?

​

Eligibility is based on military service and other requirements established by the Department of Veterans Affairs.

Many people who qualify include:

  • Veterans

  • Active-duty service members

  • Certain National Guard members (added details in module # 2 )

  • Certain Reserve members (added details in module # 2 )

  • Some surviving spouses (added details in module # 2 )

Every situation is unique, and eligibility requirements can vary.

​

Continue to Module 2: Eligibility to learn more about qualifying for a VA home loan.

The VA Home Buying Process

​

Buying a home can feel overwhelming when you don't know what to expect. Fortunately, the process follows a fairly predictable path.

Your journey will generally include:

1. Meet with a VA-savvy Realtor

Choose a real estate professional who understands VA financing and can guide you through the process.

2. Get Pre-Approved

Meet with a lender to determine your budget and obtain a pre-approval letter.

3. Search for Your Home

Tour homes that fit your needs, lifestyle, and budget.

4. Make an Offer

Work with your Realtor to prepare a competitive offer.

5. Complete Inspections

Inspect the property so you understand its condition before moving forward.

6. VA Appraisal

The lender orders a VA appraisal to confirm the property's value and that it meets the VA's Minimum Property Requirements.

7. Final Loan Approval

The lender reviews all documentation and prepares your loan for closing.

8. Closing Day

Sign your documents, receive your keys, and officially become a homeowner.

Each of these steps is explained in greater detail throughout the Learning Center.

COPYWRITE 2026 MILSPEC REAL ESTATE AT MY HOME GROUP

PCSing to Luke Air Force Base or the Phoenix Area?

PCS orders come with a lot of moving pieces. Whether you're headed to Luke Air Force Base, relocating elsewhere in the Phoenix area, or preparing to PCS out of Arizona,

Team MilSpec can help make the real estate side of the move easier to navigate.

Headed to Luke AFB?

Luke Air Force Base is located in the West Valley, with military families living throughout communities including Glendale, Surprise, Goodyear, Litchfield Park, Buckeye, Waddell, Avondale and Peoria.

Where you choose to live can make a big difference. Commute, BAH, home prices, schools, lifestyle and how long you expect to be stationed in Arizona should all be part of the conversation.

Buying During a PCS

You don't necessarily have to be in Arizona to start your home search. We can help with virtual tours, neighborhood guidance, inspections, negotiations and coordinating the purchase around your PCS timeline.

And if you're using your VA home loan, we'll help you understand how your benefit fits into the move — including entitlement, VA appraisals, closing costs and purchasing while you still own another home.

PCSing Out of Arizona?

Already own a home here? Before automatically selling, it may be worth looking at your options.

Depending on your situation, selling, keeping the property as a rental, or maintaining your existing VA loan could each have different implications for your next move and your available VA entitlement.

Start Planning Before You PCS

You don't have to have every detail figured out yet.

Whether orders just dropped or you're months away from moving, we're happy to help you understand the Phoenix market, explore areas around Luke AFB and start putting together a plan.

Want the full PCS guide?

Visit our PCS & Military Relocation Resource for a step-by-step look at planning a PCS, buying or selling, VA loan considerations, remote home searches and what to expect when relocating to or from Arizona.

Explore the PCS Resource →
COPYWRITE 2026 MILSPEC REAL ESTATE AT MY HOME GROUP
bottom of page