ELIGIBILITY REQUIREMENTS OF VA HOME LOANS

To be eligible for a VA Loan, veterans, active duty service members, National Guard members and reservists must meet the basic service requirements set forth by the Department of Veterans Affairs. Spouses of military members who died while on active duty, or as a result of a service-connected disability, may also be eligible.

It’s ultimately up to the VA to determine eligibility for the home loan program, but prospective borrowers can get a good idea by looking at the VA’s basic eligibility guidelines.

You may be eligible for a VA Home Loan if you meet one or more of the following conditions:

• You have two years of continuous active-duty and an honorable discharge OR
• You have more than 6 years of service in the National Guard or Reserves, OR
• You have served 90 consecutive days of active service during wartime, OR
• You have served 181 days of active service during peacetime, OR
• You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.

Obtaining your Certificate of Eligibility (COE)

Everyone is required to obtain a Certificate of Eligibility (COE). If you do not have this Certificate, you can complete form VA Form 26-1880 or provide your VA loan specialist a copy of DD-214 (Certificate of Release or Discharge from Active Duty) showing character of service. This will allow any VA direct lender like First Federal Bank to use the Automated Certificate of Eligibility (ACE) system to assist you in obtaining your COE. Along with the Certificate of Eligibility, loan applicants will need to document their credit, savings, and employment information.

Please call one of First Federal Bank’s VA loan specialists at 1-877-455-4677 or simply click one of the “apply now” buttons below, for either VA Purchase loan or a VA Refinance loan and one of our VA Loan specialists will call you and review your options.