VA Home Loan Eligibility

If you’re thinking about a VA home loan the easiest and fastest method of finding out if you’re eligible is by contacting a VA approved home loan specialist who can assist you in determining your qualification level, eligibility, and inform you of your options. Here’s a review of the requirements for Veterans loan eligibility:

Service during wartime:

  • Vietnam War: 8/5/64 – 5/7/75
  • Korean War: 6/27/50 – 1/31/55
  • World War II: 9/16/40 – 7/25/47

You have to have a minimum of ninety days upon active duty, as well as was discharged for purposes other than dishonorable causes.  If you have served fewer than ninety days, you might be qualified if discharged for any service related disabilities.

Service during peacetime:

Marine Corpsman with family
Photo By: Cpl. Daniel A. Wulz

 

  • 7/26/47 – 6/26/50
  • 2/1/55 – 8/4/64
  • (Enlisted) 5/8/75 – 9/7/80
  • (Officer) 5/8/75 – 10/16/81

You have to have served a minimum of 181 continual days of active duty, as well as was discharged for purposes other than dishonorable causes.  If you have served fewer than days than 181, you might be qualified if discharged for any service related disabilities.

Service following 9/7/80 (enlisted) or on 10/16/81 (officer)

If separated from services that started following those dates, you have to have:

  • Completed twenty-four months of continual active service or completed time called or ordered to active service, as well as had been discharged for reasons other than dishonorable, or have
  • Completed at the minimum of 181 days of active duty and had been discharged underneath (Hardship) 10 USC 1173, or (Early Out) 10 USC 1171, or was determined to possess compensable service-related disabilities;
  • Was discharged with fewer than 181 days of duty for service-related disabilities.  People also may be qualified if released from active service because of involuntary reduction within force, specific clinical reasons, or, in a few cases for Government convenience.
  • Service in Gulf War- during 8/2/90 to date– to be decided

If served upon active duty within Gulf War, you have to have:

  • Completed 2 years of continual active service or at least ninety days which you were ordered or called to active service, and was discharged for purposes other than dishonorable, or
  • Finished at the minimum of ninety days of active duty and was discharged under Hardship or Early Out, or was determined to possess a compensable duty-related disability, or
  • Discharged with fewer than ninety days of duty for a service-related disability.  People also may be qualified if released from active service because of involuntary decrease in force, specific clinical reasons, or, occasionally, for the Government’s convenience.

This is not all of the requirements; Contact your local Veterans Affairs office or a VA approved mortgage lender for additional assistance in determining your specific eligibility.

For more information on VA Home Loans, read FAQ about VA Home Loans or 5 Benefits of a VA Loan.


Related Articles
VA Home Loan Guide VA Loan Limits by County
VA Home Loans: How to Get Started VA Home Loans for First Time Buyers
5 Benefits of a VA Loan FAQs About VA Home Loans
VA Home Loan Eligibility VA Home Loan Myths
VA Loan Tips VA Refinance Loan Options

Comments