VA Home Loan Eligibility
Videos feature Tim Lewis, VA Loan Team Manager, NMLS #157603.
Am I eligible to apply for a VA Home Loan?
Many people simply want to know whether they are eligible to apply for a VA home loan under the VA eligibility guidelines.
Eligibility has to do mostly with duration of service. There are four important numbers to remember:
2 -- 6 -- 90 -- 181.
The "2" is for those honorably discharged veterans and active duty personnel who have served two years on active duty. The "6" is for those in the Reserve/National Guard who have served six years. The "90" is for those who have served 90 days of wartime duty called up under U.S.C. Title 10. And, finally the "181" stands for 181 days of peacetime duty called up under U.S.C. Title 10.
If you meet one of these criteria, you may be eligible for a VA mortgage.
Now, there are certain other VA-eligible borrowers who may not fit so neatly into these categories, for instance, POWs held in captivity for 90 days or more, and certain surviving spouses who have not remarried. If you're a surviving spouse, your military spouse must have died from a service-related injury or of a disability caused by a service-related injury.
If you have questions about your own VA loan eligibility, you can get answers directly from a VA home loan professional.
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