Understanding VA Home Loan Eligibility Requirements

Understanding VA Home Loan Eligibility Requirements

Tracy's Blog
February 18, 2025•2 min read

VA Home Loans are a valuable benefit for veterans, active-duty service members, and certain surviving spouses, offering advantages such as no down payment, competitive interest rates, and no requirement for private mortgage insurance (PMI). Understanding the eligibility requirements is crucial for those interested in leveraging this benefit.

Eligibility Criteria for VA Home Loans

To qualify for a VA home loan, applicants must meet specific service requirements and obtain a Certificate of Eligibility (COE). The general service requirements include:

  • Active-Duty Service Members: At least 90 continuous days of active service.

  • Veterans: Length of service requirements vary depending on the period served. For detailed information, refer to the VA's official guidelines.

  • National Guard and Reserve Members: At least six years of service.

  • Surviving Spouses: Unremarried spouses of veterans who died in service or from a service-connected disability may be eligible.

It's important to note that while the VA does not set a minimum credit score, many lenders will require a set minimum score. Additionally, applicants must meet the lender's income and credit requirements.

How to Obtain a Certificate of Eligibility (COE)

The COE verifies to lenders that you meet the eligibility requirements for a VA-backed loan. You can obtain a COE through:

  1. Lender Assistance: Many lenders can assist in obtaining the COE on your behalf. Contact me: [email protected]

  2. Online Application: Apply through the VA's eBenefits portal.

  3. By Mail: Complete a Request for Certificate of Eligibility (VA Form 26-1880) and mail it to the appropriate regional loan center.

Benefits of VA Home Loans

  • No Down Payment: Qualified borrowers can purchase a home without a down payment, making homeownership more accessible.

  • Competitive Interest Rates: VA loans often offer lower interest rates compared to conventional loans.

  • No PMI Requirement: Unlike many conventional loans, VA loans do not require private mortgage insurance, reducing monthly payment obligations.

  • Flexible Credit Requirements: VA loans may have more lenient credit requirements, assisting borrowers with less-than-perfect credit histories.

Call to Action

If you're considering purchasing a home and believe you may be eligible for a VA home loan, it's essential to understand your options and the benefits available to you. For personalized assistance and to explore your eligibility, please contact me:

Tracy Roberts

Licensed Mortgage Broker, MSFG Home Loans

Licensed in ND, SD, MN, and CO

Phone: 701-934-0636

Email: [email protected]

Let's work together to make your homeownership dreams a reality.

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Tracy Roberts is a dedicated mortgage broker with MSFG Home Loans, licensed in North Dakota, South Dakota, Minnesota, and Colorado. With a passion for helping homeowners save money and achieve their financial goals, Tracy combines years of expertise with a client-focused approach. Whether guiding first-time homebuyers or seasoned homeowners, she specializes in creating personalized strategies to maximize savings and build long-term wealth. When she’s not assisting clients, Tracy enjoys exploring the great outdoors, kayaking the Missouri River, and spending quality time with her family and grandchildren. Visit her online at tracyrobertshomeloans.com to learn more or schedule a consultation.

Tracy Roberts

Tracy Roberts is a dedicated mortgage broker with MSFG Home Loans, licensed in North Dakota, South Dakota, Minnesota, and Colorado. With a passion for helping homeowners save money and achieve their financial goals, Tracy combines years of expertise with a client-focused approach. Whether guiding first-time homebuyers or seasoned homeowners, she specializes in creating personalized strategies to maximize savings and build long-term wealth. When she’s not assisting clients, Tracy enjoys exploring the great outdoors, kayaking the Missouri River, and spending quality time with her family and grandchildren. Visit her online at tracyrobertshomeloans.com to learn more or schedule a consultation.

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