Active Duty Members
If you're currently on active duty, you're eligible for the VA Loan after 90 days of continuous service! Thats right! No deployment, no combat zone required!
Veterans
If you’re a veteran with honorable discharge, you’re eligible if you meet one of the following service requirements:
90 days of active duty during wartime
181 days during peacetime
More than 6 years of service in the Reserve or National Guard (with certain conditions)
Bonus: If you were medically discharged or separated early for service-connected issues, you may still qualify even if you didn’t hit the full service time.
Bonus x2- If you have a disability rating of 10% or more you're eligible for even more savings! You get the VA Funding fee waived!
What if you're not sure if you qualify or not?
You're not alone!
A lot of people are eligible for a VA Loan and don't even know it!
You can find out by:
1. Requesting your Certificate of Eligibility (COE) from the VA website.
2. Talk to a realtor or lender who understands the VA Loan.
3. Have your Lender look it up on the VA portal.
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Comments
Good info, didn't know you didn't need to serve a full contract before using the VA Loan.
Yes! Unlike the GI Bill, with the VA Home loan, you do not need to serve a full contract!
Wow, so much information! I am a veteran and have used my VA loan before but I did not know you could use remaining entitlement or the one time restoration. This is something that everyone who has a VA loan should know to make sure they’re maximizing their benefit. Thank you for this!
Exactly! Too many people think you can only use the VA loan once and that's it. But its a lifetime benefit and there are a lot of ways to own multiple properties with it.