Someone school me on a VA loan, please. I've never applied for any of my GI benefits and don't know where to or how to start the process. Is this something I can do through my local bank?

I have explored GI loans several times and always found a better deal. I thinks they are good if you have a very low down payment because you can avoid some fees and loan insurance. I am not an expert on this topic.

Shop around. In December I refinanced at 1.875% with no points, but that rate is gone now. Checkout Nextdoor Lending.

I bought my house with a VA loan. But that was 23 years ago. One thing about the VA that I remember was that if something happened to me, my house would be paid off. Only got about 6 more years until it’s paid off, unless we decide to pay it off early.

Warrior,
In Mn we have county veterans service offices and if they have the same in Georgia, that would be the place to find out all your veterans benefits from VA home loans to school loans. I haven't had a VA loan for over 30 years, but at that time there was a form that was very important when getting a VA loan. Sorry I can't remember what it was but it's included with loan application. Another option for you is to go to a regional veterans office and they can handle everything for you. Thank you for your service, I thought I'd pass that along seeing as how the first time I heard that was when I had been discharged for over 50 years.
Gary J

Very minimal down payment, but they are stricter on some things - or used to be.
such as.
all steps must have a rail.
guttering
all bedrooms - especially basement - are required to have a window.
I think they require the heater and hot water heater to be enclosed, but not sure.
Thats all I can remember from my 1st one.
We did conventional on every mortgage after that.
Check with a couple of reliable lenders, they should be able to get you more specifics.
Good luck!

We do but being feds they are still on covid lock down. Locked door, by appointment only and then only online. Crazy that right next door same building is our extension office, no masks, no restrictions back to full group in person meetings.

Warrior, I will shoot you a PM, but just in case other people are wondering.

https://www.va.gov/housing-assistance/home-loans/eligibility/

Use that to determine whether you are eligible, no matter what you should still always check with a VA office even if you don't think you do qualify. You can do everything online, but you may have to go to a VA office if you need to get into the system. Do you go to the VA at all? If you do, you are more than likely already in the system, and can create an online login using some of your VA creds.

What you are going to do is get your Certifice of Eligibility(CoE), and then you will need to find a lender that processes VA backed loans. The difference in tremendous, the actual rate doesn't really matter, there is a very small difference from lenders that do VA loans to a traditional one. The MAIN place where you save huge amounts is the $0 down payment, AND you are exempt from the requirement to have Private Mortgage Insurance.

You can also refinance from a traditional mortgage into a VA loan, depending on some circumstances.

I assume you are talking about a home loan? Its a competitive market for homes right now. Sellers in my area get to choose which offers they will except. If you use a VA loan its possible that the seller will not except the offer due to all the hassles the seller and buyer have to go thru. If you can qualify for a conventional mortgage I would recommend it. I never used mine because it would not work for my needs and most likely not yours but make an appointment with a loan officer with a bank/ credit union first. They will know all the details. Do not go make an offer on a home without all your ducks in a row.

Start months before you need it. Before computer tracking of records started it was a paper file. Several of my documents never got filed.

Any Fed/State office, VFW Post or American Legion post will have a Vet Rep to help with those questions.

Many counties have VA county volunteers who help work with vets to get things completed faster. Ours does, don't know about other areas, states etc.
I looked into a VA loan when we bought our first home in 1976. The only advantage they offered was longer loan time lines which would reduce monthly payments by a very little as their interest rates were only .25% below the regular bank loan. We went with our local bank with a 20 year payment, VA wanted to do a 30 year. We put 20% down but at the time our income was so low that with a 25% max going to mortgage, taxes and insurance) we could not afford a home over 30K. We still live in that house so it worked out for us.

Bryce

Good advice. If I was a seller I would not consider a buyer with a VA loan in a market this active.

I wouldnt assume any great advantage to VA loans, in fact, Ive heard they are often the most expensive game in town. Worth looking at but definitely shop around.

My lady's daughter and son in law are counting on a VA loan but I know nothing aboat it. I don't think they even need a downpayment and can borrow up to 250k.

I bought my current home with a VA Loan It has many advantages and it is a benefit worth exploring.