One of the more common questions we get is “who can qualify for a VA loan?
Who Qualifies for VA Financing?
- Wartime veterans who have served at least 90 days of active service
- Peacetime veterans who have served at least 181 days of active service
- Reservists who have served at least 6 years
- Veterans discharged under conditions that were not dishonorable. (As more clarification – if a veteran is separated from the military with a general discharge, then he or she is eligible for a VA loan. In some select cases, even Veterans who separated with an other than honorable discharge (OTH) can also qualify)
The only other exception to those that are listed above is if a Veteran was discharged for medical reasons. As a simple example, if a Veteran was injured in basic training that left him or her unable to serve, then they can usually qualify for VA loan financing.
VA Loans: Getting Approved For A VA Loan
If you are interested in qualifying for a VA loan, then you are going to need your VA Certificate of Eligibility. If you do not already have a COE, then your lender can assist you in getting one. It is also possible to go tot he local VA office and get your COE if you are in a hurry — many times they can get it to you in as little as one day.
Once you have determined that you are eligible for a VA loan and have your Certificate of Eligibility, the next step is to speak with a VA endorsed lender who can help you get prequalified and preapproved to buy a new house. Or in the event that you are refinancing your VA loan using the IRRRL program, you will still need the same things.
Complete the form below to start the process of getting a VA loan with a VA-approved lender.