Are you a veteran, active duty service member, National Guard member or reservist? You may be eligible for VA financing to purchase a home. A VA Loan has a multitude of benefits that you can take advantage of including: no down payment, no monthly mortgage insurance, and much more saving you money.

Although the VA determines final eligibility of qualification, you can get a good idea if you qualify from the Department of Veteran Affairs few basic service requirements. 

You may be eligible for a VA home loan if your service falls within any of the following categories:

Active Duty Service Personnel

• Served 90 consecutive days of active service during wartime
• Served 181 days of active service during peacetime

Members of the Selected Reserve

• More than 6 years of service in the National Guard or Reserves
• Spouses of a service member who has died in the line of duty or as a result of a service-related disability
• Discharged under honorable conditions
• Placed on the retired list
• Transferred to an element of the Ready Reserve other than the Selected Reserve
• Continuing to serve in the Selected Reserve are eligible for a GI loan

Other Types of Service

• Spouses of members of the Armed Forces serving on active duty who is a prisoner of war or has been listed as missing in action for more than 90 days.
• United States citizens who served in the armed forces of a government allied with the United States in World War II.
• Members with service in certain other organizations, services, programs and schools may also be eligible. 
• Un-remarried surviving spouses of the above described eligible persons who died as the result of service or service-connected injuries. 
• If you were enlisted and your entire service was between 9/7/1980 — 8/1/1990
• If you were an officer and your entire service was between 10/16/1981 — 8/1/1990

Peacetime Service

• Active duty continuously for 181 days & been discharged or released under conditions other than dishonorable. If you served less than 181 days, you may be eligible if discharged because of a service-connected disability.

If your entire service was during one of the following periods:

• July 26, 1947 — June 26,1950,
• February 1, 1955 — August 4, 1964
• May 8, 1975 — September 7, 1980 if enlisted 
• May 8, 1975 —October 16, 1981 if an officer

Wartime Service

• Served at least 90 days on active duty & has been discharged or released under other than dishonorable conditions. If you served less than 90 days, you may be eligible if discharged because of a service-connected disability.

If you served was during one of the following periods:

• World War II 
• Korean Conflict 
• Vietnam Era
• Persian Gulf War
  • Requires service for 2 years or the full period for which called to active duty
  • Exceptions applying to service between September 7, 1980 and August 1, 1990 also apply to Persian Gulf War