VA Loan Eligibility Requirements

VA Loan Eligibility Requirements

VA Loan Eligibility Requirements

Eligibility Criteria for VA-backed loans.

Eligibility is often the underlying question for many veterans and servicemembers considering using a VA-backed loan. So – how do you find out if you’re eligible?

The most simple and direct answer is to reach out to the VA. They can confirm your eligibility either by having you complete a VA Form 26-1880 or, alternatively, by contacting a VA Loan Technician at 877-827-3702. Additionally, the VA outlines much of the qualifying information on a Fact Sheet available through their website: VA_Guaranteed_Home_Loans Fact Sheet

In short, though, most active duty personnel and honorably discharged veterans qualify for VA-backing in the home loan process. A VA-backed loan can be used, depending on circumstances, to purchase a single-family home, certain condos, or a manufactured home. It can also be used for the refinancing of an existing mortgage or financing modifications/repairs to an existing property.

Active duty personnel with at least 90 days of wartime service or over 180 days of peacetime service generally quality. Reservists and Guardsmen require lengthier periods of service. In addition to being able to request a Certificate of Eligibility (confirmation of VA-backed loan entitlement) via the VA Form 26-1880 – confirmation of eligibility can often be obtained from a private lender.

Additionally worth noting is that used eligibility can, in many circumstances, be reused. This is primarily done by either selling the previous property or paying the original property off and looking to purchase a new property. Often, the best route to restore used eligibility as quickly as possible is to contact the VA’s Loan Technicians directly at 877-827-3702.

1 Comment
  • Robert N.
    Posted at 12:43h, 15 January Reply

    Looking at your VA loan eligibility chart I don’t see Vietnam Veterans included. As stated veterans after 1964 are not included as eligible.????

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