The more information you know about a VA Home Loan Program, the sooner you realize that “red tape” is no longer a problem. Getting a VA loan has gotten easier and easier, in fact often these loans come with out any down payment and often lower interest rates that are normal available.

Aside from the veteran's certificate of eligibility (see below) and the VA-assigned appraisal, the application process is not much different than any other type of mortgage loan. And if the lender is approved for automatic processing, as more and more lenders are now, a buyer's loan can be processed and closed by the lender without waiting for VA's approval of the credit application. This will reduce the time it takes to get the loan, speedy up the process and getting you into the home loan you deserve.

Additionally, if the lender is approved under VA's Lender Appraisal Processing Program (LAPP), the lender may review the appraisal completed by a VA-assigned appraiser and close the loan on the basis of that review. The LAPP process can further speed the time to loan closing.
General Rules for Eligibility for a VA Loan

Military Service Requirements for VA Loan Eligibility:

*NOTE: Applications involving other than honorable discharges will usually require further development by VA. This is necessary to determine if the service was under other than dishonorable conditions.

Wartime - Service during: WWII 09/16/40 to 07/25/47

Korean 06/27/50 to 01/31/55

Vietnam 08/05/64 to 05/07/75

You must have at least 90 days on active duty and been discharged under other than dishonorable conditions. If you served less than 90 days, you may be eligible if discharged for a service connected disability.

Peacetime - Service during periods: 07/26/47 to 06/26/50

02/01/55 to 08/04/64

05/08/75 to 09/07/80 (enlisted)

to 10/16/81 (officer)

You must have served at least 181 days of continuous active duty and been discharged under other than dishonorable conditions. If you served less than 181 days, you may be eligible if discharged for a service connected disability.

Service after 09/07/80 (enlisted) or 10/16/81 (officer)

If you were separated from service which began after these dates, you must have:

(a) Completed 24 months of continuous active duty or the full period (at least 181 days) for which you were ordered or called to active duty and been discharged under conditions other than dishonorable, or

(b) Completed at least 181 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1171 (Early out), or have been determined to have a compensable service-connected disability;

(c) Been discharged with less than 181 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances for the convenience of the Government.

Gulf War - Service during period 08/02/90 to date yet to be determined

If you served on active duty during the Gulf War, you must have:

(a) completed 24 months of continuous active duty or the full period (at least 90 days) for which you were called or ordered to active duty, and been discharged under conditions other than dishonorable; or

(b) completed at least 90 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1173 (Early out), or have been determined to have a compensable service-connected disability, or

(c) been discharged with less than 90 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances, for the convenience of the Government.

Active Duty Service Personnel

If you are now on regular active duty (not active duty for training), you are eligible after having served 181 days (90 days during the Gulf War) unless discharged or separated from a previous qualifying period of active duty service.

Selected Reserves or National Guard

If you are not otherwise eligible and you have completed a total of 6 years in the Selected Reserves or National Guard (member of an active unit, attended required weekend drills and 2-week active duty for training) and

(a) were discharged with an honorable discharge; or

(b) were placed on the retired list; or

(c) were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable service; or

(d) continue to serve in the Selected Reserves.

Individuals who completed less than 6 years may be eligible if discharged for a service- connected disability. Eligibility for Selected Reservists expires 09/30/2007.

You may also be determined eligible if you:

(a) are an unremarried spouse of a veteran who died while in service or from a service connected disability, or

(b) are a spouse of a serviceperson missing in action or a prisoner or war.

Eligibility may also be established for:

(a) certain United States citizens who served in the armed forces of a government allied with the United States in WWII.

(b) individuals with service as members in certain organizations, such as Public Health Service officers, cadets/midshipmen at service academies, officers of National Oceanic and Atmospheric Administration, merchant seamen with WWII service, and others.

If you would like to find out more information or to see if you would qualify for a VA loan program. Please take the time to fill out the application below to get the process started. Filling out an application in no way obligates you and is completely free to apply, fast and secure. Apply Today!