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The first step to getting a VA loan is determining your eligibility. This section provides information on requirements for VA loan eligibility, and the eligibility application process.
While some types of VA loan refinancing won't use your credit score, for your initial VA loan most lending institutions will use a benchmark of some kind. On average, that number is around 620.
Generally, if you have completed at least 90 days of active service during wartime,
you have at least 6 years of service either in the Reserves or National Guard,
you have served at least 181 days of active service during peacetime,
you're the spouse of a military service member who has either died in the line or duty, or as a result of a service-related disability.
In order to qualify for a VA loan you'll need to provide your lending institution with a COE, or Certificate of Eligibility. The process to obtain a COE involves obtaining proof of service and filling out the right paperwork for your military branch.
The first step is in a purchase or refinance is to get rate quotes from multiple lenders. Often, your lender will then guide you through the rest of the process, from COE to closing.
There are five categories for VA home loan eligibility, based on your military service. Do you meet the criteria? Find out...
After gathering the evidence you need, you can apply for your Certificate of Eligibility (COE) in the following ways.
While it's generally left to the VA to determine eligibility, these facts can help you get the loan you earned.
Buying a home with a VA mortgage means financing a home purchase with no money down, relaxed credit guidelines and reduced...
New law extends VA loan eligibility to more surviving spouses. Now a veteran’s death does not have to be duty-related for the...
There has been a dramatic increase in the number of Department of Veterans Affairs home loans to members of the National...
Compare VA Loan rates with the Military.com VA Loan rate table.