So you’ve decided to take the step toward homeownership. Now comes the navigation through the world of home loans to find the right mortgage. If you are a veteran of the US armed forces or an active duty member, you may qualify for a VA home loan. VA loans are available exclusively to current and former members of the US military and offer many benefits over conventional mortgages.

Read on to learn more about these low-cost mortgages and how to get one.

Step 1: Check your eligibility

To get a VA home loan, you must first meet the eligibility requirements, which depend on your military service. You may be eligible if:

1. Served for 90 consecutive days during the war, OR

2. Served for 181 consecutive days during peacetime, OR

3. Served for more than 6 years in the National Guard or Reserves, OR

4. Is the surviving spouse of a service member who died in the line of duty or as a result of a service-connected disability.

If you meet any of the above criteria, you can start collecting the necessary documentation to apply.

Step 2: Gather 4 critical documents

Various pieces of information are needed to verify your eligibility, as well as your ability to repay you. These include:

1. Certificate of Eligibility (CEO). The COE is your proof to the lender that you meet the minimum requirements for a VA loan. You can obtain this form through the Department of Veterans Affairs, online at the VA electronic benefits portal, from your VA approved lender, or by submitting Form 28-1880 to VA.

2. Credit report. The credit report will provide the lender with information about your current financial status, such as your debts and your debt payment history. This information helps determine how much you can borrow and still be able to pay it back. The VA does not establish a minimum credit score. Individual lenders establish a minimum credit score, but VA loan requirements are often more relaxed than conventional requirements, which is one of the main advantages of this type of mortgage.

3. Proof of income. You will need to provide proof of income to obtain a mortgage. Most lenders require the last two months of pay stubs and the last two years of tax or W2 returns to verify income. If you are applying with your spouse, your income must be included.

4. DD-214 is the form you will need to use to request your COE. This form details the conditions of your discharge and verifies that you qualify for benefits. DD-214s are provided upon discharge, but new ones can be obtained from The National Archives.

Your VA lender can help you obtain these documents if you cannot do it yourself.

Step 3: Choose a VA Loan Lender

You will need to find an FDIC insured lender to issue your loan. FDIC support ensures that the lender follows sound and safe operating practices, reducing your risk.

Not all lenders deal with VA loans, and others are just farm leaders and don’t manage the loans themselves, so you’ll need to do a little research. Even among VA lenders you will find different terms. Compare prices and find the best deal for your situation. Ideally, you want to select a lender who is FDIC insured, is a bank, and focuses almost exclusively on VA loans or VA loan refinancing.

That is all! 3 simple steps and you are on your way to buying a home with one of the best mortgage programs available. Go ahead, you’ve earned it!