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VA Loan Eligibility Requirements

By: Grant Moon 09/13/12 07:34 am

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VA Loan Eligibility Requirements

 

After finding out how beneficial it is for veterans to use a VA Loan, the next questions that will most likely come to mind are perhaps “am I eligible?” and “how do I get a VA Home Loan?” – this article will help you understand the eligibility requirements for a VA Home Loan and what succeeding steps you need to take in order get a VA Loan if you are eligible for it.

Eligibility

Per the US Department of Veterans Affairs, service men and women who served during the Wartime period during World War II, Korean War, Vietnam War, must be active on duty for at least 90 days and discharged only under honorable conditions. The veteran may still qualify even if he served less than 90 days if the reason for discharge is due to service-related disability.

Service men and women who served during the Peacetime periods 7/26/1947 to 6/26/1950; 2/1/1955 to 8/4/1964; 5/8/1975 to 9/7/1980 (Enlisted);  5/8/1975 to 10/16/1981 (Officer) – must have a minimum of 181 days of continuous active duty discharged only under honorable conditions. The veteran may still qualify even if he served less than 181 days if the reason for discharge is due to service-related disability.

Service men and women who served after 9/7/1980 (enlisted) or 10/16/1981 (officer) are also eligible for VA Home Loan Program.

For service men and women during the 8/2/1990 to date, please visit the General Eligibility section of this website for detailed information whether your duration in service or if your condition is eligible for the VA Home Loan Program.

Proof of Military Service

An original copy of your statement of service is the proof of military service if you are currently on active duty, while the certificate of discharge or certificate of release is the proof of military service for those who are honorably discharged from duty. For vets who do not have their official certificates, you may get your proof of military service by completing a Standard Form 180 requesting for military records.

Certificate of Eligibility

In order for you to apply for a VA Home Loan Program, you would need to complete a VA Form 26-1880 to request for a Certificate of Eligibility (COE) for Home Loan Benefits to the Atlanta Eligibility Center together with your proof of military service. In many cases, your lender can get your COE for you but not just to be sure, you can ask your lender first if they can do this for you before you get your COE on your own so that you can save time and effort.

Surviving Spouse of a Deceased Veteran

Unmarried individuals whose legal spouses died while on active duty or died due to a service-related disability, accident, or injury are eligible for the VA Home Loan Program.

 

For assistance you can verify your eligibility through this link now or contact us at 855-825-2278 so that one of our approved affiliate banks will be able to assist you in your application for the VA Home Loan Program.

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