What Are the Common Qualifications for a VA Loan?


Quick Answer

To qualify for a Veterans Administration home loan, a veteran must have sufficient income, good credit, a Certificate of Eligibility and no dishonorable discharge, reports the U.S. Department of Veterans Affairs. To receive a Certificate of Eligibility, a veteran must show that he meets the minimum service requirements.

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Full Answer

As of 2015, to meet the service requirements for a Certificate of Eligibility, a veteran of World War II, the Korean War, the Vietnam War or the Gulf War must have at least 90 total days of active duty, explains the U.S. Department of Veterans Affairs. A veteran serving between these wars must have at least 181 days of continuous active duty, and a veteran currently on active duty needs 90 days of continuous service. A reserve or National Guard member either needs 90 days of active duty during the Gulf War or six years of reserve or National Guard duty.

Other U.S. citizens who may qualify for VA loans include spouses of service members, cadets at military academies, National Oceanic & Atmospheric Administration officers, Public Health Service officers and merchant seamen who served during World War II, points out the U.S. Department of Veterans Affairs. Evidence of service for a Certificate of Eligibility includes DD Form 214, NGB Forms 22 or 23, or a current statement of service. A veteran who has purchased and paid off a home using a VA loan may be eligible for another VA loan to buy another home.

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