VA Home Loan Program: Eligibility


Do you qualify for VA’s no-down payment home loan program? You must have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy. Learn more about the program, including eligibility requirements from the Director of VA’s Home Loan Program, Mike Frueh
VA home loans can be used to:
Buy a home, a condominium unit in a VA-approved project
Build a home
Simultaneously purchase and improve a home
Improve a home by installing energy-related features or making energy efficient improvements
Buy a manufactured home and/or lot.

 

Status Qualifying Wartime & Peacetime Periods Qualifying Active Duty Dates Minimum Active Duty Service Requirement
Veteran WWII 9/16/1940 – 7/25/1947 90 total days
Post-WWII 7/26/1947 – 6/26/1950 181 continuous days
Korean War 6/27/1950 – 1/31/1955 90 total days
Post-Korean War 2/1/1955 – 8/4/1964 181 continuous days
Vietnam War 8/5/1964 – 5/7/1975 *For Veterans who served in the Republic of Vietnam, the beginning date is 2/28/1961 90 total days
Post-Vietnam War 5/8/1975 – 9/7/1980 *The ending date for officers is 10/16/1981 181 continuous days
24-month rule 9/8/1980 – 8/1/1990 *The beginning date for officers is 10/17/1981
  • 24 continuous months, OR
  • The full period (at least 181 days) for which you were called or ordered to active duty
Gulf War 8/2/1990 – Present
  • 24 continuous months, OR
  • The full period (at least 90 days) for which you were called or ordered to active duty
Currently On Active Duty Any Any 90 continuous days
National Guard & Reserve Member Gulf War 8/2/1990 – Present 90 days of active service
  • Six years of service in the Selected Reserve or National Guard, AND
    • Were discharged honorably, OR
    • Were placed on the retired list, OR
    • Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, OR
    • Continue to serve in the Selected Reserve

Ready to get your VA Loan?
Chris Letares
NMLS# 6958
Branch Manager | Senior Loan Officer
Mobile: (603) 860-9622
Tel:  (603) 935-7591
E-Fax (844) 491-6739
Email: cletares@financeofamerica.com

Manchester Branch | 50 Bridge Street Suite 204 | Manchester, NH 03101
FinanceofAmerica.com/cletares
Chris