A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists, and select surviving spouses (provided they do not remarry). The loan can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes, and new construction.
The requirements for VA loan eligibility
The first step to getting a VA loan is determining your eligibility. The requirements for VA loan eligibility, and the eligibility application process are:
- You have completed at least 90 days of active duty service.
- You have at least six years of service in the Reserves or National Guard.
- You have served at least 181 days of active duty service during peacetime.
- You have 90 days of cumulative service under Title 10 or Title 32. For Title 32 service, at least 30 of those days must have been consecutive.
- You’re the spouse of a military service member who died in the line of duty, or as a result of a service-related disability.
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