Do I Qualify for a VA Loan?

VA loans are specialty mortgages offered to military service members and their families and are partially backed by the Department of Veterans Affairs. To learn more details on who qualifies for a VA loan, keep reading.

The VA Loan was created to ensure that those who served our country would have the opportunity to become a homeowner.

It began with the Servicemen’s Readjustment Act of 1944. Since that time, VA Loan benefits have gone from an option only available to veterans, to covering active-duty military personnel.

Reservists and National Guard personnel have also been granted eligibility as qualifications have expanded. If you are a service member, you are likely eligible if you meet at least one the following requirements:

  • Served 2 years as a regular service member
  • Served 6 years as a Reservists or National Guard member
  • Served 90 days of active duty during wartime
  • Served 181 days of active duty during peacetime

Am I Eligible for a VA Loan?

Unlike other VA benefits, such as a GI Bill, VA Loan eligibility can only be transferred to a spouse after the qualified service member has passed.

It used to be that eligibility would only be granted to a surviving spouse if their husband or wife died in service, or of a service-related injury. Today, a surviving spouse can now apply for a VA Loan if they were married to a service member who met specific criteria, including:

  • Had a duty-related condition and was eligible for compensation
  • Was declared a POW or MIA
  • Died on duty, or of duty-related causes

Other circumstances may qualify a surviving spouse for a VA Loan. Consider talking to a Mortgage Loan Originator specializing in VA Loans to learn if you are eligible.

Other Ways to Qualify for A VA Loan

Even if you have not met service requirements, a VA Loan may be available to you if you’ve been discharged due to the following reasons:

  • Hardship
  • Government convenience
  • Reduction in force
  • Certain medical conditions
  • Service-connected disability

There are many options available to those who want to apply for a VA Loan.

As a Veteran myself, I know the importance of making sure each service member is informed of their benefits.

Contact me today to learn how you can take advantage of the benefits that you’ve earned.

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