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Not all applicants have their VA loan eligibility. Talk to approved VA lender to verify you have what is needed for VA mortgages. Many people with past credit issues have found a good alternative with FHA home refinance loans because the guidelines are more forgiving with credit.





VA Loan Qualifications

VA is the only current loan program on the planet that enables 100% home financing. Take advantage of the quality loan support from the team at VA Home Mortgage Loans.

The basic premise of the VA loan is similar to that of the FHA loan. At the core, this loan is not credit score driven. The VA loan looks at the overall credit worthiness of the borrower in making a decision. The following basically outlines what the VA approved lender looks for:

  • In determining credit worthiness for a VA loan, the focus is on the last 12 months of payment history. Underwriting can also use alternative sources of credit such as utility bills and cancelled checks if the credit depth is weak. A prior bankruptcy (BK) or foreclosure is also forgivable. Depending on the type of bankruptcy, you would be eligible one to two years following your discharge date if you've reestablished positive credit.

  • Income/employment history - a two year history is a must.

  • Your liquid assets* (cash/savings) - the general rule of thumb for liquid assets is to have in savings at least twice the amount of a mortgage payment. For example, if you are expecting to have a $1200 monthly mortgage payment, it's best to have at least $2,400 saved.

  • The type of property being purchased - VA allows manufactured homes, condos and all types of single family residences. However, because the appraisal standard is a bit tighter than normal conventional financing and the VA makes very few exceptions, it's best not to buy a manufactured home. They tend to be the most problematic in meeting the VA's strict appraisal standards.

VA Home Loan Eligibility Do You Meet the Standards for a VA Loan Program

  • 90 days or more of active duty service during wartime
  • 181 days of active duty service during peacetime
  • Discharged for circumstances other than dishonorable
  • Currently active duty personnel and you meet the above service requirements
  • Surviving spouse of a Veteran that died during service or because of service-related injuries. You also cannot have remarried.


Please take a moment and complete one of our simple loan applications and one of our experienced VA loan professionals will get back to you shortly.