Who qualifies for VA home loans?

Who qualifies for VA home loans?

VA mortgages offer no-down-payment financing, relaxed credit guidelines, and reduced closing costs. There is no doubt that this is one of the most attractive home loan programs available today for those looking for a zero-down loan, but only for those who qualify. VA loans requirements are available to those who qualify.

The Obvious: The Veteran

The Servicemen’s Readjustment Act, commonly known as the G.I. Bill. As a result of this law, service members receive a range of benefits to help them adjust to civilian life, as well as financial assistance to buy a farm, pay for college, or start a business. Also, to help you purchase a home through the brand new VA loan program. The program provided benefits to more than 2 million World War II veterans.

A second amendment to the bill was made in 1966 to include those who served during peace and war. In addition to those who served in the Vietnam War and Gulf War, we now have all veterans who retired with an honorable discharge after serving at least 90 days and were honorably discharged.

Active Duty

Initially, the G.I. Bill was designed for veterans, but now active duty personnel may qualify. Veterans can qualify for VA home loans if they have been on regular duty for more than 180 days.

As a military member, you should be aware that a reassignment can result in a transfer. In addition, if you buy a home using your VA benefit, you cannot take it with you if you move from one base to another.

When you purchase a home with a VA mortgage, you must sell the house or rent it out when you move. Depending on how your buyers finance the home, you can recover your VA home loan entitlement. You could only use a VA home loan once the original VA loan is retired in some manner if you didn’t sell the house and rent it out.

You may not qualify for a zero-down VA loan if you’re likely to be transferred multiple times over the next several years.

National Guard and Armed Forces Reserves

National Guard and Reserve members may also qualify for the VA home loan benefit. The borrower must meet the following requirements:

Have served at least 90 days under Title 10 or Title 32, or

Served in an active unit for six years, and

Discharged honorably from the Guard, Reserves, or Active Duty

Most reservists and Guard members must be made aware that they qualify for the VA mortgage program even though there are more than 500,000 active duty reservists and guard members at any given time.


While a spouse can enjoy VA benefits, VA home loan benefits can only be transferred to a spouse after the veteran dies under specific circumstances.

Suppose the qualifying VA borrower died from a service-related injury or was declared missing in action or a prisoner of war. In that case, the surviving spouse may qualify for the VA home loan benefit. The VA home loan benefit can be transferred if the surviving spouse does not remarry.

Those who are cadets in the United States Military, Coast Guard, or Air Force may also qualify for the VA home loan benefit. The VA home loan benefit is also available to midshipmen at the Naval Academy and the National Oceanic and Atmospheric Administration (NOAA).

No Comments

Post A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

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