VA Loan Requirements and VA Loan Eligibility

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Many veterans and service members don’t realize that they currently meet the VA loan requirements for a home loan that is underwritten by the government. In fact, only about 10% of the nation’s 24 million veterans have utilized their VA home loan benefits.

If you meet the VA loan eligibility requirements, you just need to obtain a Certificate of Eligibility, or COE, to open up an array of benefits for your service.

Continue reading to learn more about VA loan requirements, how to qualify for a VA loan, and how it can benefit you.

Are you interested in starting the application process for a VA mortgage loan? Click here to fill out a pre-application form and get started today!

If you want assistance obtaining your Certificate of Eligibility, then feel free to give us a call at 800-211-4940 and we’d be happy to walk you through the process

VA Loan Eligibility – Who is Eligible?

Here’s a look at who meets the VA loan requirements for government-backed home loans (loans underwritten by the U.S. government):

  • Traditionally, service members who served on active duty for 90 days during wartime or 181 days during peacetime, but more recently a minimum of two years of service have been typical VA loan requirements.
  • Members of the National Guard or Reserves who served at least six years
  • Surviving spouses – who have not remarried – of a service member killed in the line of duty or as a result of a service-related injury
  • Veterans discharged due to a service-related injury.

  • This field is for validation purposes and should be left unchanged.

Get Your Certificate of Eligibility (COE) in Seconds

One of the VA loan requirements is a Certificate of Eligibility (COE). A Certificate of Eligibility is the only reliable Proof of Eligibility on which we, as the lender, may rely, except in the case of an Interest Rate Reduction Refinancing Loan (IRRRL).

Completing a Certificate of Eligibility is often faster through an approved lender like than with the Veterans Administration.

Thanks to the Automated Certificate of Eligibility technology, can pull a COE in seconds – versus waiting weeks through the VA. Although eligibility doesn’t guarantee loan approval, is strongly committed to securing a VA loan for every veteran and service member who qualifies. Veterans may obtain a COE online through the VA.

Benefits of the VA Home Loan Program

VA loan requirements are designed to ensure the benefits of a government-backed loan are available to all service members and veterans who have earned the privilege through their sacrifices.

The VA Home Loan Program has already helped more than 18 million veterans and active duty service members achieve home ownership since 1944. After more than 67 years of service, the VA Home Loan Program remains one of the most progressive lending programs on the market.

Since the Department of Veterans Affairs insures up to 25% of each VA home loan, approved lenders like have the confidence to provide eligible military members with low interest rates and flexible loan terms.

Other benefits of a VA home loan include:

  • No monthly mortgage insurance required
  • No down payment except in cases where the mortgage amount exceeds the VA limit for your county. In such cases, the down payment is 25% of the amount above the county VA limit.
  • Regulated closing costs

Do you want to determine if you can afford monthly mortgage requirements? Click here to calculate your monthly payment based on current VA mortgage rates.

Discover Flexible Options Designed to Help You

There is also a great deal of flexibility built into the VA home loan application process, which allows:

  • Reduced income requirements
  • Reduced credit requirements
  • Higher debt-to-income ratios

Approved lenders like don’t need to see perfect credit. As a result, our VA loan eligibility requirements allow us to help many veterans who might not otherwise secure financing. In fact, about 80% of VA loan borrowers could not have qualified for a conventional loan.

Helping veterans with getting a home loan is our nation’s way of saying “Thank You” to the millions of men and women who have served us so faithfully over so many years.

Get Started Today

If you have any questions about VA loan requirements, VA loan eligibility or anything else you feel we can help you with, don’t hesitate to give us a call at 800-211-4940. If you’d prefer to get the process started right away, you can click here to fill out our online pre-application for a VA mortgage home loan!

VA Mortgage helps active service members and veterans with loans designed especially to assist you. Contact us today so we can help you with the benefits you deserve.

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