Veteran Eligibility for VA Loan: Everything You Need to Know

Greetings to all our esteemed readers! In this article, we will be discussing veteran eligibility for VA loans. We know the process of obtaining a VA loan can be daunting and confusing, especially for veterans who are new to the system. However, this article aims to simplify the process and provide you with all the necessary information you need to know as a veteran.

What is a VA Loan?

A VA loan is a mortgage loan guaranteed by the United States Department of Veterans Affairs (VA). These loans are only available to eligible veterans, their spouses, and in certain cases, active-duty service members. VA loans offer numerous advantages over traditional mortgages, including no down payment requirements, no mortgage insurance premiums, and competitive interest rates.

Who is Eligible for a VA Loan?

Service Members: To be eligible for a VA loan, service members must meet at least one of the following criteria:

Type of Service
Minimum Active Duty Service Requirements
Wartime Service
90 days of continuous active duty during a wartime period
Peacetime Service
181 days of continuous active duty during a peacetime period
Service in the National Guard or Reserves
6 years of service in the National Guard or Reserves

Veterans: Veterans who were discharged under conditions other than dishonorable are eligible for VA loans. Additionally, there are no eligibility requirements for veterans who were discharged due to a service-related disability.

Spouses: Un-remarried spouses of veterans who died while in service or as a result of a service-related disability may also be eligible for VA loans.

Benefits of a VA Loan

VA loans offer several benefits over traditional mortgages, including:

🔹 No down payment requirements

🔹 No mortgage insurance premiums

🔹 Competitive interest rates

🔹 Easier credit requirements

🔹 No prepayment penalties

🔹 VA assistance if you fall behind on payments

How to Apply for a VA Loan

The process of applying for a VA loan is similar to that of a traditional mortgage. The first step is to obtain a Certificate of Eligibility (COE) from the VA. This certificate verifies your eligibility for a VA loan and can be obtained online through the VA’s eBenefits portal or by mail through VA Form 26-1880. Once you have your COE, you can then apply for a VA loan through a participating lender.


1. Can I use a VA loan to buy a second home?

No, VA loans are only intended for primary residences.

2. Can I use a VA loan to buy a rental property?

No, VA loans are only intended for primary residences.

3. Can I use a VA loan to buy a mobile home?

Yes, as long as the mobile home is affixed to a permanent foundation and meets certain VA requirements.

4. Can I use a VA loan to refinance my current mortgage?

Yes, veterans can use a VA loan to refinance their current mortgage through the VA’s Interest Rate Reduction Refinance Loan (IRRRL) program.

5. What is the maximum amount I can borrow with a VA loan?

There is no set maximum for VA loans. However, the amount you can borrow will depend on your income, credit history, and the value of the property you wish to purchase.

6. Do I have to pay closing costs with a VA loan?

Yes, but veterans are limited in the amount they can be charged for certain closing costs, such as appraisal fees, origination fees, and title insurance. Additionally, sellers may agree to pay some or all of the buyer’s closing costs.

7. Can I use a VA loan to buy a farm or business?

No, VA loans are only intended for residential properties.

8. What credit score do I need to qualify for a VA loan?

While there is no minimum credit score requirement, most lenders prefer a credit score of at least 620.

9. Can I use a VA loan to buy a foreclosure or short sale property?

Yes, as long as the property meets VA requirements and is in good condition.

10. Can my spouse co-sign on a VA loan?

Yes, as long as your spouse is also eligible for a VA loan. If your spouse is not eligible, they can still co-sign on a traditional mortgage.

11. Do I need to make a down payment with a VA loan?

No, there is no down payment required for VA loans.

12. Can I use a VA loan to buy a condo?

Yes, as long as the condo is VA-approved.

13. Can I still qualify for a VA loan if I have filed for bankruptcy?

Yes, as long as you have reestablished good credit and meet other eligibility requirements.


Overall, VA loans are an excellent option for eligible veterans looking to purchase a home. They offer several advantages over traditional mortgages and can save veterans thousands of dollars in the long run. If you are a veteran looking to purchase a home, we highly recommend exploring your options with a VA loan.

Thank you for reading our article on veteran eligibility for VA loans. We hope that you found it informative and helpful. If you have any further questions or would like to learn more, please do not hesitate to contact us.


The information in this article is for educational and informational purposes only and should not be construed as legal, financial, or tax advice. Please consult with a licensed professional before making any financial decisions.