Eligibility for VA loans

Okay, I've recently had a lot of loans for military members. There's always a question about the eligibility requirements. I wish this was easy and cut and dried but it isn't so I'm going to try and explain as easily as possible. 


Basically the following groups have eligiblity:

• Veterans
• Active duty 
• Reservists/National Guard members
• Some surviving spouse

However, you need to obtain a Certificate of Eligibility from the VA to show your benefits.  To apply, you need to supply a copy of your DD-214 or sometimes the lender can obtain it online for you.

Wartime - You must have at least 90 days on active duty and been discharged under other than dishonorable or discharged for a service connected disability.

Peacetime - You had to serve at least 181 days of continuous active duty and been discharged under other than dishonorable or discharged for a service connected disability.

Active Duty Personnel - If you are now on regular duty (not in active duty for training) you're eligible after having served 181 days (90 days during the gulf war) unless discharged or separated for a previous qualifying period of active service.

Reserve and National Guard - Basically you need 6 years of service in the Reserves or National Guard (a member of an active unit, attending required weekend drills and 2-week active duty training) and 

Honorable discharge, retired or transferred to the Standby or Ready Reserves after honorable service OR continue to serve in the Selected Reserves.

Spouse - An unremarried spouse of a veteran who died while in service or from a service connected disability or a spouse of a serviceperson missing in action or a prisoner of war. Also a surviving spouse who remarries on or after they turn 57 may be eligible (this can vary by lender).

So, that pretty much covers the subject of eligibility.  If you have questions leave a comment, I'll try and answer it for you.