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Eligibility Requirements for a VA Home Mortgage

There are a lot of reasons behind the difficulties in securing a mortgage loan for a lot of people today. This is one of the many reasons why the United States Department of Affairs started the VA Home Loan program to assist veterans in being able to build or buy a home for themselves and their families. There are, of course, several eligibility requirements to fulfill in order to be able to receive a VA home mortgage and here are some of the basic ones.

Veterans and Service Members in Active Duty

As its name would suggest, a VA mortgage is primarily focused on providing assistance to veterans. This means that service member that provided service during wartime and peacetime periods will be able to receive backing from the VA. For veterans that served during World War 2, the Korean War, and the Vietnam War as well as succeeding peacetime periods until 1981, at least 181 days of service is required for eligibility. For those that served during the Gulf War and other similar conflicts around the world, a period ranging from 24 months of continuous active duty or a minimum of 90 to 181 days of service is required depending on the theatre. Service members should also have been discharged under conditions other than dishonorable.

Reserves and the National Guard

There are several special requirements to become eligible for a VA home mortgage for service members under the Selected Reserves and the National Guard. One of which is to have completed a total of 6 years in the units and honorable discharge, retirement, transferred to the Standby Reserve and similar units, or still in service in the Selected Reserve. Service members discharged for service related disabilities may still qualify even if service rendered is less than 6 years.

Other Eligible Individuals

Under certain conditions, spouses of service members can become eligible to apply for a VA mortgage. Spouses that qualify include those of service members that are declared missing in action or MIA and those of a Prisoner of War. An un-remarried surviving spouse of service member that died due to a service related disability or during service can also qualify for receiving a VA backed loan. There are also special eligibility rules for Cades studying in the armed services’ many academies like the US Military, Coast Guard, Air Force, or Naval Academy. Officers at NOAA as well as merchant seaman and citizens that served for allied nations in World War 2 may also qualify.

To see the specific details regarding these requirements, it is best to go to the nearest VA office, see the online documents on the official VA website, or consult experts on VA loans and services.

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