Who is eligible for a VA Loan?
In order to be eligible for a VA loan, a borrower must be a military veteran who meets certain eligibility requirements. These requirements include:
- Having served a minimum amount of time in the military, depending on the era in which the veteran served. In general, veterans who served during wartime must have served at least 90 consecutive days of active duty, while veterans who served during peacetime must have served at least 181 days of active duty.
- Receiving an honorable discharge from the military. Veterans who were discharged under dishonorable conditions or who were separated from the military for other reasons may not be eligible for a VA loan.
- Meeting certain income and credit score requirements. In general, VA loan borrowers must have a sufficient income to support the mortgage payments and must have a credit score that is high enough to qualify for a mortgage. The specific income and credit score requirements will vary depending on the lender and the borrower's individual circumstances.
Why Should You Choose Us?
We're here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our simple Hard Money Rate Quote.