VA Loan Eligibility Requirements
Explore the military service and discharge requirements for VA loans to determine if you are eligible for this valuable Veteran benefit.
Securing a VA home loan can be a significant milestone for Veterans and active-duty service members, offering favorable terms and benefits that make homeownership more accessible. However, it's crucial to understand the VA eligibility requirements to qualify for a VA mortgage.
Who is eligible for a VA loan?
The qualification requirements for a VA loan fall into two categories:
- Service requirements
- Financial requirements
Minimum Service Requirements for VA Loan Eligibility
To be deemed eligible for VA loan benefits, you must meet one of the following service criteria:
| VA Service Requirements |
|---|
| 90 consecutive days of active service during wartime |
| 181 days of active service during peacetime |
| 6 years of service in the National Guard or Reserves |
| 90 days of service under Title 32 orders, with at least 30 days being consecutive |
| Spouse of Veteran who died while serving or due to a service-related condition |
Military Discharge Requirements
In addition to meeting the VA service requirements, you must also have an acceptable discharge status to be eligible for a VA loan. The following discharge statuses are considered acceptable:
- Honorable (HON)
- Under Honorable Conditions (UHC)
- General (GEN)
Discharge statuses that are Other Than Honorable (OTH) or Bad Conduct (BCD) are not eligible for VA loan benefits. Veterans with these ineligible discharges may apply for a discharge upgrade to potentially become eligible for VA loans.
What if I don’t meet the VA service requirements?
In some unique cases, individuals who do not meet the basic VA service or discharge requirements may still be eligible for a VA loan. You may still qualify if the reason for your military discharge was related to:
- Hardship
- The convenience of the government
- A reduction in force
- A medical condition or service-related disability
- An early-out, by you served at least 21 months of a 2-year enlistment
If you fall into one of these categories, reach out to a VA home loan specialist to confirm your eligibility status and explore your options.
Verifying Your VA Loan Eligibility
To verify eligibility for VA benefits, prospective borrowers must provide a Certificate of Eligibility (COE) when applying for a VA loan. VA lenders use your COE to confirm that you meet the VA service requirements and other eligibility criteria.
Next Steps
Once you've confirmed your eligibility for a VA loan and have obtained your COE, the next set of criteria you must meet are your lender's financial requirements for a VA loan. These financial criteria typically include aspects such as your credit score, debt-to-income ratio (DTI), income, employment history and more. Be prepared to work closely with your chosen lender to meet these criteria and qualify for your VA home loan.