Find Out if You are Eligible for a VA Home Loan

VA Home Loan Eligibility

Find Out if You are Eligible for a VA Home Loan

The VA Loan Program is designed for veterans and members who are currently serving in the military. Those who qualify are eligible to receive home financing with no down-payment and little to no closing costs. There are a few conditions and requirements one must meet to qualify. Let’s check them out.

To begin with, you must first meet at least one of the following scenarios:

  • Served in an active duty capacity during wartime for at least 90 days consecutively
  • Served in an active duty capacity during peacetime for at least 181 days
  • Served in the Reserves or National Guard for at least 6 years
  • Were not dishonorably discharged
  • Are the husband or wife of a deceased service member who died during duty or who passed away due to a disability suffered during service.

Are there any income requirements associated with a VA home loan?

While there are no minimum income standards to receive a VA mortgage, you must have consistent income and be able to pay for your monthly expenses as well as have a certain percentage of income beyond what is needed to cover your monthly expenses and mortgage payment. This additional amount of income is referred to as “Residual Income” and includes expenses like transportation, food, clothing, and other necessities.

Thanks in part to the Department of Veteran Affairs requiring all applicants to have residual income, VA Loan borrowers are more likely to sustain a good income and save up for emergencies. This has also helped VA Loan borrowers report the lowest rate of foreclosure among all major mortgage lending programs.

You will need to acquire a Certificate of Eligibility (COE) before being approved

Luckily, you don’t need to receive a COE in order to start the application process. A COE is a document issued by the VA that lists the rights you possess pertaining to receiving VA Benefits. To receive this document you can call or visit a VA Loan specialist or print the form (VA Form 26 1880) from the VA website and send it via mail to the Department of Veterans Affairs.

What additional requirements do private lenders need in order to qualify for a VA Loan?

Once the VA determines those who are eligible for a VA home mortgage, the lender who finances the loan may require certain standards are met before issuing the financing. These requirements may include minimums on your credit, income, and debt.

When you contact a specialist or lender, they can calculate your debt and credit, and run your credit score from the three major credit agencies.



  • DrankSchlauderaff
    Posted at 17:16h, 03 December Reply

    My wife and I are refinancing a house we don’t remember ever having a VA loan before but it is coming up that we did is there anywhere we can go to verify this and see what the loan was for?

  • Suzanne Schlauderaff
    Posted at 17:13h, 03 December Reply

    My husband and I are refinancing a house we don’t remember ever having a VA loan before but it is coming up that we did is there anywhere we can go to verify this and see what the loan was for?

  • Kate Welling
    Posted at 21:54h, 23 January Reply

    My husband wants to get a VA home loan. I’ll let him now that he needs to get a COE before getting approved. I’d imagine that you wouldn’t want to miss this step!

  • Hazel Owens
    Posted at 23:11h, 21 January Reply

    That’s good to know that you’ll need a specific percentage of income beyond what’s needed to cover monthly payments and mortgage payments in order to qualify for a VA home loan. My sister and her husband are looking to buy a home and he was in the military, so I’m helping her figure out what benefits she can get. We’ll have to figure out what the percentage is so she can figure out what price range of homes she’ll have to look at to make sure she will qualify.

  • Katie
    Posted at 17:12h, 29 May Reply

    I have completed more then 90 days active duty during operation Iraqi freedom, and more then 181 days consecutively of active duty in the US Navy, and now they are telling me I am not eligible as it was less then 2 years. Not sure what to do?

  • Barbara Fowler
    Posted at 18:13h, 16 February Reply

    About 30 years ago we purchased a home through my husband’s VA benefit. In 1984 my husband lost his job in the steel mill and was unable to find other employment even close to the same income. My job was not enough to keep us afloat. Finally he found a good job out of state and we had to relocate. We put our home up for sale but it was a very depressed area and we couldn’t sell. After discussions with our bank we did a Deed in Lieu of Foreclosure. The bank eventually was able to sell our home. We now wonder if our VA eliigiblity was ever restored. How can we find out?

    • Matt Terry
      Posted at 19:31h, 23 April Reply


      Contact the Veterans Affairs office nearest you for the answers you seek.


  • Russel Lawrence
    Posted at 22:58h, 03 August Reply

    Have a Certificate of Eligibility No. 1125588, though it show valid though 7/19/87, is this still good or do I need another one?
    Number 1 is marked; Eligibility restricted per VA Regulation 4349__Funding fee required

  • Bryson M Riordan
    Posted at 16:58h, 22 November Reply

    I am a retired E-7 from the United States Navy. I have had a VA COE and have satisfied that. Now my wife and I have a factory build mobile home and have had to go conventional loan with a high interest rate. This last summer we contacted FT Financial Inc to do a complete cash buy out of what we owed on the land and park model. After filing all the paper work the package went to a loan officer to review the loan. The only thing that disqualified me is they wanted me to work at a part time job full time for 6 months. Hell iam 75 years old. My wife and I have the money to pay this off but it would deplete all of our cash savings.

Post A Comment

Log in

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy