VA Loan Eligibility Requirements

Securing a VA home loan can be a significant milestone for Veterans and active-duty service members, offering favorable terms and benefits that make homeownership more accessible. However, it's crucial to understand the VA eligibility requirements to qualify for a VA mortgage.

​

Who is eligible for a VA loan?

The qualification requirements for a VA loan fall into two categories:

1. Service requirements

2. Financial requirements

 

Minimum Service Requirements for VA Loan Eligibility

​

To be deemed eligible for VA loan benefits, you must meet one of the following service criteria:

VA Service Requirements

​

• 90 consecutive days of active service during wartime

• 181 days of active service during peacetime

• 6 years of service in the National Guard or Reserves

• 90 days of service under Title 32 orders, with at least 30 days being consecutive

• Spouse of Veteran who died while serving or due to a service-related condition

 

Military Discharge Requirements

In addition to meeting the VA service requirements, you must also have an acceptable discharge status to be eligible for a VA loan. The following discharge statuses are considered acceptable:

• Honorable (HON)

• Under Honorable Conditions (UHC)

• General (GEN)

 

What if I don’t meet the VA service requirements?

In some unique cases, individuals who do not meet the basic VA service or discharge requirements may still be eligible for a VA loan. You may still qualify if the reason for your military discharge was related to:

• Hardship

• The convenience of the government

• A reduction in force

• A medical condition or service-related disability

• An early-out, by you served at least 21 months of a 2-year enlistment

 

If you fall into one of these categories, reach out to a our loan specialists to confirm your eligibility status and explore your options.

 

Verifying Your VA Loan Eligibility

To verify eligibility for VA benefits, Three Peaks Mortgage will pull your Certificate Of Eligibility when you apply for a VA loan. Three Peaks will use your COE to confirm that you meet the VA service requirements and other eligibility criteria.