veteran home loan benefits

VA Loans

How Long Do Veteran Home Loan Benefits Last?

Veteran home loans allow qualifying individuals who have served in the United States Armed Forces to purchase a home with no money down. This special program reserved for military members and Veterans is part of the GI Bill of Rights, which was enacted in 1944. 

If you are a Veteran or military member who’s thinking about pursuing homeownership, you may be wondering how long your VA loan benefits last. You may have questions like, are VA loans a one-time deal? Or, can you use this benefit more than once? Does it expire after a certain period?  Here’s what you need to know.


Do VA Loan Benefits Expire?

As a Veteran or service member, you may be wondering if your VA loan benefit has an expiration date. You’ll be happy to know that the answer is no. Your VA loan benefit is good for life. Anyone who can meet the VA’s Minimum Service Requirements is able to apply. There is no expiration date.


Can I Use My VA Loan Benefit More than Once?

Not only does the VA loan benefit not expire, but you can also use it more than once. This means that qualifying individuals can buy a home with a VA loan, then sell it, and use their VA benefits to buy another property. 

That being said, there are some restrictions. VA loans are meant for primary residences only. Furthermore, with the exception of surviving spouses who qualify, your VA loan benefit cannot be passed on to your children or family members. 


How Many VA Loans Can I Have at Once?

Here’s where things get complicated. Say that you buy a home with a VA loan, then you receive orders for a Permanent Change of Station. Now you have to buy a new home, but you don’t want to sell the one you have. This is a situation in which it may be possible for a borrower to have more than one VA loan at a time. However, your entitlement amount may be reduced.

“Full entitlement” applies to borrowers who have never had a VA loan or have taken out a VA loan previously, but had their entitlement restored (usually, by selling the house and paying off the loan). “Reduced entitlement” applies to borrowers who already have a VA loan that they’re paying off. When you have reduced entitlement, there’s a limited amount of money you can borrow without having to bring some of your cash to the table. You may, however, be able to make up for it by putting some of your own money down.

If you have questions about this, we recommend reaching out and connecting with one of our experts. VA loan entitlement can get complicated, and we want to make sure you’re getting the right information. 


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Call our office today to get started with your Veteran home loan application.