If you’re a GI or have served on active duty in the military, you probably qualify for a GI home loan, also referred to as a VA loan or Veterans Administration loan. The VA 30-year fixed home loan is extremely popular among servicemen and women that want to get into a home with little and sometimes no money since it provides 100% financing.

The GI loan is a benefit for eligible servicemembers, veterans, reservists and certain unmarried surviving spouses to help them obtain housing affordable housing. Although it is referred to a a loan, it actually is a guarantee against default on the loan. The Veterans Administration does not actually make the loan. A GI loan is secured through regular mortgage channels including banks, mortgage brokers and mortgage bankers.

Although there are a few more hoops you need to jump through to secure VA financing, the loan process is pretty much the same as any other loan. Credit worthiness, steady employment or employment history and all the other usual suspects all pertain to a veterans loan. If you have not established any credit due to being on active duty, a lender will rely on your payment record of rent, utilities, automobile insurance or other expenses you have paid on a regular basis. Even less than stellar credit does not necessarily disqualify you from getting a GI loan. You may need to fully document the reason for low or bad credit scores, but lenders tend to be more foregiving to veterans.

GI home loans may be more difficult to get at some lenders than at others. Although the Veterans Administration sets general guidelines for loan qualification other than military service, individual lenders are free to add restrictions such as minimum credit score, no recent bankruptcy, etc. to their own qualifications.

If you meet all the qualifications for military service, a 30-year fixed GI home loan may well be your best route to home ownership.