Lisa asked in Politics & GovernmentMilitary · 6 years ago

Army Question- If you go from Active Duty to the Reserves do you get the same life insurance amount? Also, can you qualify for a?

VA loan in the reserves?

1 Answer

  • Mark B
    Lv 7
    6 years ago
    Favorite Answer

    Avoid VA loans if possible. They are the most expensive loans available. An FHA loan is a better deal. The only advantage to a VA loan is 0$ down, but you pay a fee (financed for the length of the mortgage) for that benefit.

    Life insurance is the same coverage and same cost. It will be deducted from your drill pay.

    Tricare Reserve Select health insurance is available to purchase. It is a $50.75/month for an individual $205.62/month for family coverage. It is less than 1/2 the cost of comparable coverage from major companies. You must pay the premium yourself. It can't be deducted from your drill pay.

    Source(s): Reserve officer, bought my first home using a VA loan.
Still have questions? Get your answers by asking now.