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VA Home Loan Qualifications

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VA mortgage is a specific opportunity for veterans to buy a primary home without down payment. The loans of such kind are for those, who have served, but there are also some additional requirements the borrower should meet.

In case you meet at least one of the following conditions, you may apply for pre-qualification.

  • You have been in active service during wartime for a period  of 90 uninterrupted days;
  • You have been in active service for half a year during peace time;
  • You have been in National Guard or Reserves for more than 6 years;
  • You are married to a service member, who has died in the line of duty or because of a service-related disability.

The recipients of VA loans should get the Certificate of Eligibility (COE), which explains the VA entitlement of a borrower and is got through the Department of Veterans Affairs, in person or online. We have also some information about how to get a VA home loan certificate of eligibility.

Though the applicants do not have any strict requirements as to the amount they earn monthly, their income should be stable and reliable to guarantee the repayment of the credit.

The borrower should also decide on the amount to borrow in advance. The post “How Much Money to Borrow to get a Mortgage” will be helpful for your more reasonable decision.

Remember that the applicant of a VA home loan must not be discharged due to dishonorable conditions.