Asked by: Tudora Ridle
asked in category: General Last Updated: 8th April, 2020

Can active duty get VA loan?

VA Loans are Available for Active Duty Military
Generally, you're eligible if you've served at least 90 consecutive days on active duty during wartime or 181 days during peacetime. But the bottom line remains the same: You can use the VA loan program to buy a home while you're still serving.

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Similarly, how long do you have to be on active duty to get a VA loan?

You may be eligible for a VA loan by meeting one or more of the following requirements: You have served 90 consecutive days of active service during wartime, OR. You have served 181 days of active service during peacetime, OR. You have 6 years of service in the National Guard or Reserves, OR.

Likewise, what qualifies you for a VA home loan? You must have satisfactory credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy.

Similarly, what disqualifies you from getting a VA home loan?

Generally, veterans who served at least 90 consecutive days are eligible if they were discharged for one of the following reasons:

  • Discharged for hardship.
  • Early out.
  • Convenience of the government.
  • Reduction in force.
  • Condition interfered with duty.
  • Compensable service-connected disability.

Why are VA loans bad?

The VA loans typically have lower interest rates than conventional mortgages, allow for higher debt-to-income ratios and lower credit scores, and they don't require private mortgage insurance.

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