VA Home Loan Eligibility
Are You Eligible For a VA Home Loan?
If you fit into one or more of the following criteria you are eligible for a VA Home Loan:
- You are currently on active duty with 90 days of continuous service.
- You have served at least 181 active days during peacetime.
- Veterans who have served Post-Vietnam War with 181 days of continuous service. Veterans who served in WWII for 90 total days, Post-WWII for 18 continuous days, the Korean War for 90 total days, and Post-Vietnam War Veterans who served 181 continuous days.
- Veterans who served from 9/8/1980 to 8/1/1990 with a beginning date for officers of 10/17/1981 are eligible at 24 month of continued service or at least 181 days of ordered active duty service.
- Veterans who served from 8/2/1990 to present with 24 continuous months of service or at least 90 days of ordered active duty service.
- National Guard and Reserve members with six years of service in the Selected Reserve or National Guard with 90 days of active service. Completed all required training earning enough points. Must have been have been honorably discharged, or placed on the retired list.
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Other Eligible Beneficiaries
Individuals with service as members in certain organizations, such as Public Health Service officers and CDC, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seaman with World War II service, and others.
VA Home Loan for Spouse of Service Member
The spouse of a Veteran can apply for home loan eligibility under one of the following conditions:
- You are currently married to an active service member who meets one or more of the conditions expressed above.
- You are the spouse of a military member who died in active duty and have not been re-married
Disabled Veterans and VA Home Loan Eligibility
Disabled veterans qualify using the same methods as non-disabled veterans. The differences in your home loan between a disabled and non-disabled service member are the disability benefits that are included on top of your standard VA Loan.
What is the 24 Month Rule?
As described above and, according to the Department of Veterans Affairs Benefits you are affected by the 24 month rule “If service was between Sept. 8, 1980, (Oct. 16, 1981, for officers) and Aug. 1, 1990. If so, Veterans must generally complete 24 months of continuous active duty service or the full period (at least 181 days) for which they were called or ordered to active duty, and be discharged under conditions other than dishonorable.”
To learn more about your eligibility contact a loan officer today.