VA Home Loan Eligibility
VA home loans can make homeownership easier and more affordable for military families. Eligibility is broader than many realize—current service members, veterans, and surviving spouses can all take advantage of loans with lower interest rates and more generous terms.
Our staff has been helping veterans get the benefits they deserve for years. When you contact Veterans Guide for help with your VA home loan, you’ll be connected to a VA-approved lender that can provide detailed information on who qualifies for a VA loan.
On This Page
- Who Is Eligible for a VA Home Loan?
- VA Loan Military Service Requirements
- Certificate of Eligibility
- VA Loan Eligibility for Spouses
- Financial Requirements for VA Loan Eligibility
- Common Misconceptions About VA Loan Eligibility
- How To Check Your Eligibility and Apply
- How Veterans Guide Can Help You Navigate VA Loan Eligibility
- Frequently Asked Questions
- Ready To Apply? Here’s What To Do Next
Who Is Eligible for a VA Home Loan?
Military veterans and current active duty service members are eligible for VA home loans, as are National Guard members, Reservists, and surviving spouses. Current and former service members must fulfill their military service requirements.
VA Loan Military Service Requirements
If you’re a current service member, you are eligible for a VA-backed loan if you’ve served 90 continuous days.
If you’re a veteran, your VA loan eligibility requirements depend on when you served. If your service occurred after August 2, 1990, or the beginning of the first Gulf War, you must have 24 months of peacetime or 90 days of wartime service.
Veterans who served earlier generally must have 24 months of peacetime or 181 days of wartime service. The VA uses your DD214 to determine the length of your service, so make sure that it accurately reflects your experience.
Certificate of Eligibility
A VA loan Certificate of Eligibility, or COE, proves your eligibility for a VA-backed loan, and you’ll need to get one before you can proceed. You can request yours online, through the mail, or through your lender. The VA will try to contact you within five business days, and you can check the status of your COE application online.
Veterans need their DD214 to apply for a COE, and current service members need a statement of service.
VA Loan Eligibility for Spouses
You are also eligible for a VA loan if you’re the surviving spouse of a service member killed in action or the spouse of a prisoner of war or missing-in-action service member.
Surviving spouses of disabled veterans are also eligible for a VA home loan if they are eligible for Dependency & Indemnity Compensation.
If you have a full entitlement, there is no cap on your loan limit. If you have a partial entitlement, the amount the VA will guarantee depends on where you’re purchasing your home.
Financial Requirements for VA Loan Eligibility
Even with a COE, you must meet the private lender’s financial requirements. Although each lender’s standards are different, they will generally consider the following information:
- Credit score: Your credit score gives your lender a general overview of your financial history. Your lender will particularly examine your last 90 days of debt and payments.
- Residual income: Your lender will examine the amount of money you have after all your bills are paid to ensure that you can still pay your mortgage if your other bills and expenses increase.
- Debt-to-income ratio: Also known as DTI, this refers to the percentage of your gross monthly income going to debt payments. Your lender assesses your debt burden to determine the likelihood you’ll repay your loan.
Better credit generally allows you to access a loan with more favorable terms and lower interest rates. However, there are still plenty of options for getting a VA-backed loan even if you have bad credit.
Note that loans to purchase mobile homes may have additional requirements.
Common Misconceptions About VA Loan Eligibility
One of the most common misconceptions about VA-backed home loans is that you need perfect credit to get one. While better credit may widen the choice of potential lenders, the partial VA loan guarantee makes it easier to get a VA-backed loan than a regular mortgage.
Your VA-backed loan isn’t a one-time benefit, either. If you’ve had a VA loan in the past and have paid it off completely, you can take advantage of your maximum loan entitlement. If you currently have a VA loan or have previously foreclosed on a VA loan, you will only be entitled to partial benefit, depending in part on where you live.
Current and former National Guard members and Reservists also qualify for VA-backed loans. Even if you have never been called up, you’re still eligible if you have six creditable years.
How To Check Your Eligibility and Apply
You can check your eligibility for a VA loan online at the VA website or through your lender. Many veterans choose to get preapproved with a lender to better understand what they can afford.
A VA disability attorney can help determine your eligibility and advise you on the application process. They can also help you raise your disability rating to 100% and navigate additional VA benefits, such as housing allowances for 100%-disabled veterans.
How Veterans Guide Can Help You Navigate VA Loan Eligibility
Our team is devoted to helping veterans access all available benefits, including VA-backed loans. We provide educational material, such as our video library, disability rating calculator, back pay calculator, and VA benefit schedule, while our personalized guidance offers the support you need to start your journey to home ownership.
Having a lender who understands the VA home loan process can make the process easier. That’s why we connect veterans with our trusted VA lenders.
Frequently Asked Questions
If you don’t see your question answered here, check out our FAQ page or contact us today.
Can I Get a VA Loan With Bad Credit?
VA loan credit and income requirements are often easier to meet than veterans think. While you do have to meet a lender’s standards to be approved for a VA-backed loan, there are plenty of ways to access VA home loans even if you have bad credit.
What if I Served Less Than 90 Days?
If you’ve served less than 90 days, you can still receive a COE if you were discharged for reasons including hardship, certain medical conditions, and service-related disabilities. An early out, the convenience of the government, and an involuntary reduction in force are other discharge reasons that may make you eligible for a VA-backed loan.
Is My Spouse Eligible for a VA Loan?
Only spouses of prisoners of war or missing-in-action service members and surviving spouses of service members who were killed in action or died due to a service-related disability are eligible for a VA loan.
Can I Restore My VA Loan Benefit After Using It?
Yes. If you have paid off your VA loan completely, you may access your complete loan entitlement. You may be eligible to receive a partial entitlement, even if you still have an outstanding VA loan.
Ready To Apply? Here’s What To Do Next
VA-backed home loans allow veterans and their families to fulfill their dreams of homeownership. While the process can seem overwhelming, working with a VA-approved lender can help determine your next steps.
Veterans Guide provides trusted information and guidance to veterans. Our staff of veterans and veterans’ allies can help you access VA-backed home loans and other benefits. Contact us today, and we will connect you with our trusted partner, Novus Home Mortgage, who can help answer your questions.
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