VA Loan Eligibility: A Guide for Military Service Members and Veterans

What Do I Need to Qualify For a VA Loan? 

Thinking about using your VA loan benefit to buy a home? We know the process can seem overwhelming at first – there are lots of moving parts and military-specific requirements to navigate. But don’t worry. We’re here to help break it all down into simple, manageable steps and show you exactly how to qualify.

Who Can Get a VA Loan?

Let’s start with the basics – finding out if you’re eligible. VA loans are an incredible benefit earned through your military service, and they’re available to more service members than you might think. You may qualify if you’re:

• Currently serving on active duty
• A veteran
• A member of the National Guard or Reserves
• The surviving spouse of a veteran who died in service or from service-connected disabilities

And yes, this includes ALL branches of the military:

• Army
• Navy
• Air Force
• Marines
• Coast Guard
• Space Force
• National Guard
• Reserves

“I could not be happier with HomePromise.”  – Matthew C. 

How Long Do I Need To Serve To Get a VA Loan? 

This is one of the most common questions we hear, and the answer depends on your service type:

If you’re active duty, the required service time is shorter if you’ve served during wartime or in combat zones. This makes sense – if you’ve put your life on the line in active combat, you should have faster access to your benefits.

For our National Guard and Reserve members: You’ll need either:

• • • 6 years of creditable service, OR
    • Time served on active duty call-up

Here’s some good news many people don’t know: If you’re in the Guard, both federal AND many state deployments now count toward your eligibility. This recent change has made it easier for many Guard members to qualify.

What Type of Discharge Do I Need For a VA Loan?

Don’t let concerns about your discharge status stop you from exploring a VA loan. While an honorable discharge makes the process straightforward, you may still qualify with:

• A medical discharge under honorable conditions
• Other types of discharges (we can help you understand if yours qualifies – call one of our VA loan experts for more information at 800-720-0250)

How Do I Get My Certificate of Eligibility (COE) For a VA Loan?

Think of your Certificate of Eligibility (COE) as your golden ticket to VA loan benefits. While you can apply for one yourself, why make the process harder than it needs to be? We can get your COE much faster and with less hassle on your part.  Call us at 800-720-0250 for help.

You’ll need these documents handy:

• Active Duty: Your current statement of service
• Veterans: DD-214
• Guard/Reservists: NGB-22 and points statement
• Surviving Spouses: Additional documentation we can help you identify

Pro tip: Can’t find your military documents? Don’t panic. We can help you navigate getting replacements from the VA records archive.

Can I Get More Than One VA Loan?

Here’s a surprise for many service members – you’re not limited to just one VA loan! In fact:

• You can have multiple VA loans at the same time
• You can reuse your VA loan benefit after paying off a previous loan
• While there are some limits on total borrowing when you have multiple loans, the limits are probably higher than you think

Will a Low Credit Score Stop Me From Getting a VA Loan?

Let’s ease your mind about credit concerns. While the VA itself doesn’t set a minimum credit score, each lender has their own requirements. Here’s what you should know:

• Credit requirements vary widely between lenders
• Your credit history matters, but it’s not the only factor
• Income and debt ratios play a big role too
• Some lenders are much more flexible than others
• Minimum credit scores for some lenders can be as high as 640
• The HomePromise minimum credit score is much lower at 580

How Does The VA Funding Fee Work?

The VA funding fee is part of most VA loans, but it’s simpler than it might seem:

• First-time users pay 2.15% of the loan amount
• It goes up to 3.3% for subsequent use
• You can roll it into your loan (no upfront payment needed)
• If you have a service-connected disability, you might be exempt
• Making a down payment can lower your fee

How Do I Start the VA Loan Process?

Ready to take the first step? Here’s your simple game plan:

1. Find your military documentation (or let us help you get it)
2. Let us help you get your Certificate of Eligibility – we often succeed even when other lenders can’t
3. Call 800-720-0250 to talk with us about your goals and situation
4. APPLY ONLINE NOW

Why Should I Work With a VA Loan Specialist?

The VA loan process has a lot of moving parts, but you don’t have to figure it all out alone. Working with experts who handle VA loans day in and day out means:

• Getting your COE faster
• Having an expert guide for tricky situations
• Understanding all your options clearly
• Making the whole process smoother and less stressful

Don’t let the details of VA loan eligibility overwhelm you or stop you from using this valuable benefit you’ve earned through your service. We’re here to handle the complexity while you focus on finding your perfect home.

Ready to get started? Call 800-720-0250 or APPLY ONLINE NOW and let our VA loan specialists guide you through each step with confidence.

Take Action with HomePromise

Call HomePromise at 800-720-0250 today! Get a free consultation and expert guidance to unlock your full benefits and turn your dream home into reality. We’ll be with you every step of the way. Call now, don’t wait!