The following article was written by guest bloger Matt Polsky of VAMortgageCenter.com.

Making environmentally-friendly improvements to your home doesn’t have drain your savings, especially if you’re a military homeowner or a prospective one. The VA Home Loan Guaranty program enables service members and veterans to finance the home of their dreams with many benefits, including purchasing an energy efficient home or refinancing to add an energy-efficient improvement. Additionally, an extension on the military homebuyer tax credit increases your savings. 
           

Iowa VA loans feature several financial benefits, one being the no money down possibility. Qualified borrowers pay zero percent down and can do so when they combine their VA loan with an energy-efficient mortgage (EEM). Every county in Iowa has a VA loan limit of $417,000, which far surpasses the median price of a starter home. For service members and veterans who already own a home, it is possible to refinance to a VA loan and improve your home with energy-efficient features.
           

Some of the other upsides to an Iowa VA loan include:
           

            -No prepayment penalty
            -Lower interest rates
            -No private mortgage insurance each month
            -Cheaper closing costs than most mortgage programs

            -Less strict credit and financial terms to qualify
           

More often than not, service members and veterans are eligible for the VA home loan program, but some are ineligible. Those who served on active duty for 90 days during wartime or 181 days during peacetime may be eligible. Members of the National Guard and Reserves may be eligible if they served for at least six years. Surviving spouses may also be eligible. Complete a Certificate of Eligibility (COE) from the VA website or a VA-approved lender to complete the first step toward earning a VA loan.

There is still time for military members who are shopping for a home to capitalize on the homebuyer tax credit. They have until April 30 to sign a binding sales contract and until June 30 to close the deal. However, to be eligible for the tax credit Foreign Service, military and intelligence personnel must have served at least 90 days on official extended duty overseas between Jan. 1, 2009 and April 30, 2010.

For first-time homebuyers, their tax credit peaks at $8,000; $6,500 for repeat buyers. A few restrictions apply to the program:

• The maximum purchase price of a home is $800,000.
• Married couples with an annual income of $225,000 or individuals with that of $125,000 are ineligible.
• You and your spouse cannot have owned a primary residence in the last three years to be a first-time homebuyer.
• Repeat buyers must have lived in their residence for five of the last eight years.