Eligibility Rules for VA Loans

Service Requirements and Other Conditions for VA Home Loans

Aug 28, 2009

An article detailing the eligibility conditions for VA loan program.

Individuals who served for at least 90 days during wartime or with 181 days of continuous peacetime active duty, and who also were discharged under other than dishonorable conditions, are eligible for VA loans. According to the U.S Department of Veteran Affairs, service during the following periods are eligible for VA loan benefits.

Home Loans for Veterans with Wartime Service During:

Even if the service period of a person is less than 90 days, he may be eligible if he was discharged for a service connected disability.

VA Loans for Veterans with Peacetime Service During:

Similar to the wartime service, if the service personnel was discharged for a service connected disability before completion of 181 days, he may still be eligible for VA loans.

Home Loans for Veterans of Gulf War

For an individual who served in active duty during the gulf war, either he should have completed 24 months of active duty and discharged under other than dishonorable conditions or he should have completed at least 90 days of active duty and discharged by the government under special circumstances.

Individuals who were discharged for a service connected disability are also eligible for VA home loan even if they have less than 90 days of active duty. Another scenario where individuals with less than 90 days of active duty are eligible is when they were discharged due to an involuntary reduction in force, certain medical conditions, or, for the convenience of the Government.

Eligibility for Active Duty Service Personnel

A person who is on regular duty is eligible after serving 181 days (90 days during the Gulf War) in service.

VA Loans for Spouses of Veterans

A surviving spouse (who never remarried) of a veteran who died while in service or from a service connected disability is eligible for home loan benefit. Similarly a spouse of a service person missing in action or a prisoner of war is also eligible for V.A home loans.

Home Loans for Selected Reserves or National Guard

A person who completed six years in the selected reserves or national guard and who was discharged with a honorable discharge or retired or continue to serve in the selected reserve is eligible for VA loans. An individual who was discharged for a service-connected disability is eligible even if he served less than six years. Individuals with service in certain organizations and U.S citizens who served in the armed forces of a government allied with the United States in World War II may also be eligible for V.A Loan program.

The copyright of the article Eligibility Rules for VA Loans in Buying/Selling a Home is owned by Swapna Antony. Permission to republish Eligibility Rules for VA Loans in print or online must be granted by the author in writing.