va loans

What are VA Loans?

VA loans are insured by the U.S. Department of Veteran Affairs (VA) and provide highly competitive terms for former or active military members. Borrowers must meet minimum qualifications including VA eligibility in order to receive financing.

VA Loan Requirements

  • Down Payment: None required.
  • Credit Score: Our minimum required is 600.
  • Debt Requirement: Our Max not to exceed 60%.
  • Loan-to-Value Ratio (LTV): Up to 100% financing available.
  • VA Certificate of Eligibility (COE) required.
  • Loan Limit (max allowable loan amount): Depends on borrower VA Entitlement (determined when borrower requests VA COE) and region.
  • No Mortgage Insurance (MI) required.
  • Property purchased must be an owner occupied, primary residence (no second home, investment, or commercial properties). Subsequiental VA loans are allowed if balance of entitlement and assets allow.

VA Eligibility

Borrowers are eligible if they have:

  • Served 90 days minimum during wartime.
  • Served 180 days minimum during peacetime.

Other eligible groups

  • Un-remarried surviving spouses or spouses of POW or MIA service person.
  • Service personnel on active duty (181 days minimum, or 90 if served during Gulf War).
  • Selected Reserves and National Guard with 6 years of minimum service in an active unit, unless discharged for disability connected to service.
  • Specific United States citizens who have served in the military of a government allied with the United States during WWII.
  • Public Health Service officers, cadets of the United States Military, Air Force, Or Coast Guard Academy.
  • Midshipmen at the United States Naval Academy.
  • Officers of the National Oceanic & Atmospheric Administration.
  • Merchant seaman with WWII Service.

Dishonorably discharged veterans are not eligible.

VA COEs may be requested online by visiting or speaking with an ANMC VA-approved lender who can determine eligibility.

About Us

Thanks for visiting Frederick Schmitz - American Nationwide Mortgage Company. Local expertise and broad real estate experience will benefit you whether you are serious about buying or selling a home at this time, or are a returning client checking out the many homeowner resources offered here.

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Frederick Schmitz - American Nationwide Mortgage Company

Direct: (904) 657-8099
Toll Free: (877) 219-4MTG
100 SR-13, Suite D
Saint Johns, FL 32259-2841

NMLS #1428390/1626703
Licensed: Georgia & Florida