VA home loans have multiple benefits for retired and active U.S. military, but the pressing question is: who is eligible? Here’s what you’ll need to prove in order to obtain your Certificate of Eligibility and cash-in on your VA benefits.
Who Is Eligible
First and foremost, anyone who applies must meet the criteria below in addition to providing proof of adequate income, acceptable credit, and a validCertificate of Eligibility (COE).
> Active Servicemembers and Veterans:
You are eligible to apply as long as you meet the minimum-length-of-service requirements, listed below, and were “discharged under conditions other than dishonorable” – U.S. Department of Veteran Affairs.
In addition to servicemembers, the spouse of a Veteran may apply for a VA home loan if he or she is the:
spouse of a Veteran who either died during service, or from a disability connected to service, and has not remarried.
spouse of a servicemember who is missing in action (MIA) or a prisoner of war (POW).
surviving spouse who remarried following these conditions:
he or she remarried on or after the age of 57
he or she remarried on or after December 16, 2003
(The Department of Veteran Affairs notes: “a surviving spouse who remarried before December 16, 2003, and on or after attaining age 57, must have applied no later than December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.”)
surviving spouse of certain totally disabled veterans whose cause of death may not have been related to the disability.
> Certain U.S. citizens who served in WWII with the armed forces of a government allied with the U.S.
> Individuals with service in certain organizations, including, but not limited to:
Public Health Service officers
Cadets attending the U.S. Military Academy, Air Force Academy, Coast Guard Academy, and also Midshipmen at the U.S. Naval Academy
National Oceanic & Atmospheric Administration officers
And finally, Merchant Seaman with WWII service
For more information on VA home loan eligibility, speak to one of our trained VA loan advisors 24/7 at 888-842-0490 and www.usava.com in addition to www.benefits.va.gov.