Iowa VA Loans

Right now is a great time to buy new houses in Iowa, especially for qualified veterans. When you purchase or build a new house in Iowa with a VA Loan, you get to take advantage of the many benefits that have made the entire loan process much simpler and more affordable.

What is a VA Loan?

A VA Loan is not actually a loan, but rather a VA-insured loan. When you go through the VA for your loan, they will guarantee a percentage of that amount, which is how much your lender will receive in the event of a foreclosure. Basic entitlement is up to 25% of the loan amount. What this means for you is you will be able to take advantage of many benefits that you wouldn’t be able to find with a conventional loan.


With a VA guaranteed loan, you will not be required to provide a down payment on the house. This is one of the greatest benefits available from the VA, making it possible for first time homeowners and young couples afford their dream house even if they don’t have the necessary funds saved up. With a VA Loan, you also won’t be required to pay private monthly mortgage insurance. Other great benefits include minimal closing fees, easy refinancing, quick approval and flexible repayment plans.

Who Qualifies?

If you are a current member of the military, you are able to qualify after 181 days of regular active-duty service. Ex-military personnel must have also served this length of time and been discharged under honorable circumstances. There are many exceptions to the rules, so be sure to do a little research to see if you can qualify. If you fit the guidelines, you will then need to fill out an eligibility form with the VA. Once they have approved your application, you will be sent a Certificate of Eligibility (COE) in the mail.

Choosing a Lender

The lender you go through to obtain your VA Loan can be a bank, savings & loans or mortgage company. The only requirement is that they participate in the VA Loan Guaranty Program. Be sure to shop around a bit before deciding on the right lender for you.

Get Started Today and Save

Getting started is easy. Fill out our 1-minute quote request form to see if you qualify.

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