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Homeownership Benefits for Veterans

Homeownership Benefits for Veterans
Home Loans
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At Willamette Valley Bank, we’re proud to support those who’ve served our country—and one of the best ways we can do that is by helping veterans and military families achieve the dream of homeownership. VA loans, backed by the U.S. Department of Veterans Affairs, offer flexible and affordable financing options designed specifically for eligible service members, veterans, and surviving spouses.

So what makes VA loans such a powerful option?

First and foremost, VA loans require no down payment—a huge benefit, especially in today’s housing market. Qualified borrowers can finance up to 100% of the home’s value, making it easier to get into a home without years of saving. Plus, VA loans don’t require private mortgage insurance (PMI), which can significantly reduce monthly payments.

These loans also offer competitive interest rates and more flexible credit requirements than many conventional loan programs. That means even if your credit history isn’t perfect, a VA loan could still be within reach. And because they’re backed by the VA, lenders can often offer better terms and added peace of mind.

Eligible uses for a VA loan include purchasing a primary residence, refinancing an existing loan, or making certain improvements to an existing home. Whether you're buying your first home, upgrading for a growing family, or relocating to a new area, a VA loan can help make it happen.

Who is Eligible for a VA Loan?

Eligibility is determined by the U.S. Department of Veterans Affairs. Here's a general breakdown of who may qualify:

Eligible Individuals:

  • Veterans who have served a minimum required period of active duty (typically 90 days during wartime or 181 days during peacetime)
  • Active-duty service members
  • National Guard and Reserve members (with at least 6 years of service or 90 days of active duty under Title 32)
  • Cadets at the U.S. Military, Air Force, or Coast Guard Academies
  • Midshipmen at the U.S. Naval Academy
  • Officers of the National Oceanic & Atmospheric Administration (NOAA)
  • Public Health Service officers

Surviving Spouses:

Certain surviving spouses of veterans can also be eligible for a VA loan benefit. They may qualify if:

  • Their spouse died in service or from a service-connected disability
  • They are unmarried, or remarried after age 57 and on or after December 16, 2003
  • Their spouse was missing in action (MIA) or a prisoner of war (POW) for at least 90 days

At WVBK, our mortgage team is experienced in helping veterans navigate the process and understand their benefits. We’ll work with you every step of the way—from pre-approval to closing—to make sure the path to homeownership is smooth and stress-free.

To all who’ve served—thank you. If you’re ready to explore VA loan options, we’re here to help you every step of the way.