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VA Loan Information |
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Learn more
about VA Home Loans from the nation's #1 VA purchase lender,
VAMortgageCenter.com. |
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VA Loan
Limit
The 2010 VA Loan limit is $417,000 for most areas of the country.
Some high-cost counties have higher VA loan limits. See:
2010 VA County
Loan Limits for High-Cost Counties (PDF) |
VA Loan
Eligibility
US Military Veterans, Active Duty personnel, Reservists, National Guard
members and some surviving spouses are eligible, subject to
the following conditions: |
Wartime
Service During:
 World
War II: 9/16/1940 to 7/25/1947
Korean
War: 6/27/1950 to 1/31/1955
Vietnam
War: 8/5/1964 to 5/7/1975
You must have at least 90 days on military 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, During:
7/26/1947
to 6/26/1950
2/1/1955
to 8/4/1964
5/8/1975
to 9/7/1980 (Enlisted)
5/8/1975
to 10/16/1981 (Officer)
You must have served at least 181 days of continuous military active
duty service 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 9/7/1980 (Enlisted) or 10/16/1981 (Officer)
If you were separated from military service which began after
these dates, you are eligible if you:
Completed
24 months of continuous military active duty service or the full period (at
least 181 days) for which you were ordered or called to
military active
duty and been discharged under conditions other than
dishonorable, or
Completed
at least 181 days of military active duty and been discharged
for Hardship, Early Out, or have a compensable
service-connected disability;
Been
discharged with less than 181 days of military service for a
service-connected disability. Individuals may also be eligible
if they were released from military active duty due to an involuntary
reduction in force (RIF), certain medical conditions, or in
some cases, for the convenience of the US Government.
Gulf War - Service during period 8/2/1990 to date yet to be
determined
If you served on military active duty during the Gulf War, you
are eligible if you:
Completed
24 months of continuous military active duty service 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
Completed
at least 90 days of military active duty service and been
discharged for Hardship, Early Out, or have a compensable
service-connected disability, or
Been
discharged with less than 90 days of service for a
service-connected disability. Individuals may also be eligible
if they were released from military active duty due to an involuntary
reduction in force (RIF), certain medical conditions, or in some
cases, for the convenience of the Government.
Current Active Duty Service Personnel
If you are currently on regular military active duty (not active
duty for training), you are eligible after serving 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 military unit, attended required weekend drills
and two-week active duty for training) and
Were
discharged with an honorable discharge, or
Were
placed on the retired list, or
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
Continue
to serve in the Selected Reserves
Individuals who completed less than 6 years may be eligible if
discharged for a service-connected disability.
You May also be eligible if you:
Are
an un-remarried spouse of a veteran who died while in military service
or from a service-connected disability, or are a spouse of a
serviceperson missing in action (MIA) or prisoner of war
(POW).
Eligibility may also be established for:
Certain
United States citizens who served in the armed forces of a
government allied with the United States in World War II.
Individuals
with service as members in certain organizations, such as
cadets at the United States
Military, Air Force, or Coast Guard Academy, midshipmen at the
United States Naval Academy, officers of National Oceanic &
Atmospheric Administration (NOAA), merchant seaman with World
War II service, Public Health Service officers, and others. |
How to
Apply for a VA Loan
You can apply for a VA loan with any home lender that
participates in the VA home loan program. You will need to get
a Certificate of Eligibility from the VA to prove to the
mortgage lender that you are eligible for a VA loan. To get a
Certificate of Eligibility complete
VA Form 26-1880,
Request for a Certificate of Eligibility: You can get the
Certificate of Eligibility by applying online at
http://vip.vba.va.gov/,
by applying through your lender, or completing the Certificate
of Eligibility
(found with link above) and mailing it to the address shown on
the form. In some cases the lender can obtain the certificate
within minutes if they have access to the Web LGY system.
You will need acceptable proof of military service. If you are
still on regular active duty, you must include an original
statement of service signed by the personnel officer or commander of your unit or
higher headquarters which identifies you and your social
security number, and provides your date of entry on your
current active duty period and the duration of any time lost.
If you were discharged from regular active duty after January
1, 1950, a copy of your DD Form 214, Certificate of Release or
Discharge From Active Duty should be included with your VA
Form 26-1880. If you were discharged after October 1, 1979, DD
Form 214 copy 4 should be included. A PHOTOCOPY OF DD214 IS
SUFFICIENT -- DO NOT SUBMIT AN ORIGINAL DD214 DOCUMENT.
If you are still serving on regular military active duty, you
must include an original statement of service signed by the personnel officer or commander of
your unit or higher headquarters which shows your date of
entry on your current active duty period and the duration of
any time lost.
If you were discharged from the Selected Reserves or the
National Guard, you must include copies of documentation of at
least six years of honorable service. If you were discharged
from the Army or Air Force National Guard, you may submit NGB
Form 22, Report of Separation and Record of Service, or NGB
Form 23, Retirement Points Accounting. If
you were discharged from the Selected Reserve, you may submit
a copy of your latest annual points statement and evidence of
honorable military service.
If you are still serving in the Selected Reserves or the
National Guard, you must include an original statement of
service signed by the personnel officer or commander of your
unit or higher headquarters showing the length of time that
you have been a member of the Selected Reserves.
To obtain proof of military service, complete
Standard Form 180.
Mail the form to the appropriate military service
as listed on the form. |
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