Eligibility You must have satisfactory credit, enough income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed residence loan. The residence must be for your own personal occupancy. The eligibility requirements to achieve a COE are listed below for Servicemembers and Veterans, spouses, and other eligible beneficiaries. VA residence loans may be used to: Buy a condominium, a condominium unit in a VA-accredited project Build a condominium Simultaneously buy and beef up a condominium Improve a condominium by installing energy-related capabilities or making energy efficient improvements Buy a manufactured residence and/or lot To refinance an existing VA-guaranteed or direct loan for the intention of a lower pastime cost To refinance an existing mortgage loan or other indebtedness secured by a lien of record on a residence owned and occupied by the veteran as a condominium Eligibility Requirements for VA Home Loans Service right through wartime: World War II - September 16, 1940 - July 25, 1947 Korean War - June 27, 1950 - January 31, 1955 Vietnam War - August 5, 1964 - May 7, 1975 Service Requirements: At least 90 days active duty - with other than dishonorable discharge Less than 90 days active duty - if discharged for a service-attached disability Gulf War - August 2, 1990 - to be determined Service Requirements: 24 months continuous active-duty - with other than dishonorable discharge At least 90 days or completed the full term that he or she was ordered to active duty with other than dishonorable discharge At least 90 days active duty - and discharged for difficulty, early out, convenience of the Government, reduction in force, situation interfered with duty or compensable service-attached disability Less than 90 days active duty - if discharged for a service-attached disability Service right through peacetime: All - July 26, 1947 - June 26, 1950 and February 1, 1955 - August four, 1964 Enlisted - May eight, 1975 - September 7, 1980 Officers - May eight, 1975 - October 16, 1981 Service Requirements: At least 181* days continuous active duty - with other than dishonorable discharge Less than 181 days active duty - if discharged for a service-attached disability If you were separated from service: Enlisted - After September 7, 1980 Officers - After October 16, 1981 Service Requirements: 24 months continuous active duty - with other than dishonorable discharge At least 181 days or completed the full term that he or she was ordered to active duty with other than dishonorable discharge At least 181 days active duty - and discharged for difficulty, early out, convenience of the Government, reduction in force, situation interfered with duty or compensable service-attached disability Less than 181 days active duty - if discharged for a service-attached disability * 90 days applies for wartime Active-duty service workforce: If you are now on active duty, eligibility may be founded after 90 days of continuous active duty. Upon discharge or launch from active duty, eligibility must be reestablished. Selected Reserve or National Guard: If you usually are not otherwise eligible and you've got completed a total of six credible years* in the Selected Reserve or National Guard (member of an active unit, attended required weekend drills and two-week active duty for training) and in all possibility the most following: Were discharged with an honorable discharge Were placed on the retired list Were transferred to the Standby Reserve or a element of the Ready Reserve other than the Selected Reserve after service characterized as honorable service Continue to serve in the Selected Reserve *Individuals who completed less than six years may be eligible if discharged for a service-attached disability. You may be determined eligible if: You are an un-remarried better half of a Veteran who died despite the fact that in service or from a service-attached disability You are a better half of a Servicemember missing in action or a prisoner of warfare You are a surviving better half in receipt of Dependency and Indemnity Compensation (DIC) benefits in situations where the Veteran's demise was not service-attached Note: A surviving better half who remarries on or after age 57 and on or after December 16, 2003, may be eligible for the residence loan improvement. However, a surviving better half who remarried before December 16, 2003, and on or after age 57, must have utilized no later than December 15, 2004, to establish eligibility. Spouses The better half of a Veteran also can apply for residence loan eligibility under in all possibility the most following stipulations: Unremarried better half of a Veteran who died despite the fact that in service or from a service attached disability, or Spouse of a Servicemember missing in action or a prisoner of warfare Surviving better half who remarries on or after attaining age 57, and on or after December 16, 2003 (Note: a surviving better half who remarried before December 16, 2003, and on or after attaining age 57, must have utilized no later than December 15, 2004, to establish residence loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.) Surviving Spouses of sure totally disabled veterans whose disability may not have been the intent of demise Other Eligible Beneficiaries You may also apply for eligibility if you fall into in all possibility the most following categories: Certain U.S. residents who served in the armed forces of a central authority allied with the United States in World War II Individuals with service as members in sure firms, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seaman with World War II service, and others Restoration of Entitlement Veterans can have previously-used entitlement "restored" to buy an alternate residence with a VA loan if: The assets bought with the prior VA loan has been sold and the loan paid in full, or A qualified Veteran-transferee (customer) agrees to assume the VA loan and replacement his or her entitlement for an an identical quantity of entitlement originally used by the Veteran vendor. The entitlement may be restored one time offered that the Veteran has repaid the prior VA loan in full, but has not disposed of the assets bought with the prior VA loan. Remaining entitlement and restoration of entitlement may be requested through the VA Eligibility Center by completing VA Form 26-1880.
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