VA Loans

Am I Eligible for a VA Home Loan?

Through dedicated service to our country, military service members and veterans qualify for a range of benefits earned through their service. Chief among those benefits is an opportunity to take part in the VA Loan program.

While the VA Loan is designed specifically for those who served, there are a handful of requirements. In order to qualify for a VA Loan there are specific service conditions each borrower must meet.

You may be eligible for a VA Home Loan if you meet one or more of the following conditions:

  • You have served 90 consecutive days of service during wartimeOR
  • You have served 181 days of services during peacetimeOR
  • You have more than 6 years of service in the National Guard or ReservesOR
  • You are the spouse of a service member who died in the line of duty or as a result of a service-related disability

Obtaining your Certificate of Eligibility

All recipients of a VA Loan must first obtain a Certificate of Eligibility (COE), a formal document that explains what VA entitlement you possess, through the Department of Veterans Affairs. Not to worry, however, your Veterans United Loan Specialist can help you secure your COE, usually within a matter of minutes. You do not need your Certificate of Eligibility in hand to start the loan process with Veterans United.

VA Loan applicants may also obtain their Certificate of Eligibility themselves by filling out a Certificate of Eligibility Request Form (VA Form 261880). The form can be downloaded through the Veterans Administration web site and mailed directly to the VA.

Additional Eligibility Requirements

Although the VA determines the guidelines for those who are eligible for the VA Loan benefit, private lenders who finance the home purchases have an additional set of criteria a potential borrower must satisfy, including debt, income and credit requirements

When you apply for a VA Loan, your VA mortgage specialist from Veterans United will pull your credit score from the three leading credit agencies, as well as examine your debt-to-income ratio.