If you want to qualify for a VA loan, you need to understand the ins and outs of VA loan requirements. You must fill out VA Form 26-1880 via the Veterans Administration anad request a Certificate of Eligibility before you are permitted to apply for a loan. Remember that even though the Certificate of Eligibility permits you to fill out an application for a home loan, this does not necessarily mean that your loan will get approved.
VA Loan Requirements – You may qualify if you were on active military duty during the following wars:
- WWII from September 16, 1940 to July 25, 1947
- Korean War from June 27, 1950 to January 31, 1955
- Vietnam War from August 5, 1964 to May 7, 1975
You need to have served on active duty for a minimum of 90 days. You automatically do not qualify if you received a dishonorable discharge from the military unless you were discharged due to a disability.
You may qualify if you were on active duty during the following peace time periods:
- July 26, 1947 to June 26, 1950
- February 1, 1955 to August 4, 1964
- May 8, 1975 to September 7, 1980
- May 8, 1975 to October 16, 1981
The official VA loan requirements state that you need to have served on continuous active duty for a minimum of 181 days and received an honorable discharge unless you were discharged due to a service-related disability.
Service Periods Later than September 7, 1980 as an Enlisted Member or after October 16, 1981 as a Military Officer
VA loan requirements if you were discharged after the above periods:
- Completion of continuous active military duty for 24 months or a minimum of 181 days, and you received an honorable discharge
- Completion of active service for a minimum of 181 days and you received a Hardship 10 USC 1173 discharge or an Early Out 10 USC 1171 discharge, or a decision was rendered that you were discharged due to a disability related to your service that qualified you to receive monetary compensation
- Received a discharge without completion of active duty for 181 days due to a disability related to your duties. In addition, you may qualify if you were discharged from active service due to no fault of your own. A few examples include specific medical conditions, reduction in force that was not voluntary on your part or, in certain cases, because the government decided that a discharge was more convenient.
Gulf War – Required qualifications if you were active during the period from August 2, 1990 to a currently undecided date:
- Completion of continuous active military service for 24 months or a period of 90 days during which you received an honorable discharge
- Completion of a minimum of 90 days of active service and a Hardship 10 USC 1173 discharge, an Early Out 10 USC 1173 discharge or a discharge due to a service-related disability
- Received a discharge without completion of 90 days active military duty because of a service-related disability. Other reasons for qualification include a reduced force that is not voluntary, medical conditions that qualify or a situation in which the government has attained a specific type of convenience.
Active Duty Members
You meet the VA loan requirements if you are currently on regular active duty after you have served in the military for a minimum of 181 days or 90 days during the period encompassing the Gulf War unless you received a discharge from a former active service date.
National Guard or Selected Reserves
You meet the VA loan requirements if you have met all other qualifications, you were on active duty with the National Guard or Selected Reserves and you:
- Received an honorable discharge
- Transferred to a Selected Reserve branch or Standby Reserve
- Currently are on active duty in the Selected Reserves
You may meet VA loan requirements if you served for less than six years but you received a service-related discharge due to a disability. Additionally, you may have eligibility status if you are the surviving spouse of a veteran who died because of a service-related disability or lost his or her life during active duty. You also may qualify if you are the surviving spouse of a person who became a prisoner of war or whose body was never discovered.
Additionally, there are specific guidelines if you have remarried before, on or after December 16, 2003 and you were at least 57 years of age at the time.
Other Individuals Who May Meet The VA Loan Requirements:
- United States citizens who served with allays during WWII
- People who performed services with specific organizations that include United States Naval Academy midshipmen, military cadets, public health officials National Oceanic & Atmospheric Administrators or WWII merchant seamen.