Establish Your VA Loan Eligibility

Establishing VA Loan Eligibility

VA Loan Mortgages is a national lender with expertise in veteran mortgage ­– so you feel like you are speaking to your local expert.

As a Veteran, you are entitled to some great benefits, including a VA loan. This type of loan helps if you are cash-strapped when you buy, plus offers many other advantages. Even if you have had credit problems, these loans may still be an option for you.

At, we are committed to helping you qualify for one of these loans and are willing to help you even if you come to us with less than perfect credit. We know that when “life happens,” it may impact your credit rating, but don’t let that deter you from claiming your benefits. Contact us and let us assess your circumstances to determine your VA loan eligibility today!

VA Loan Eligibility Requirements

Four groups of people typically meet VA loan eligibility requirements:

  1. Are you a Veteran? If you have served 90 or more days of active duty during wartime or 181 days during peacetime, YOU QUALIFY!
  2. Are you on active duty? If you have served for at least 90 continuous days, YOU QUALIFY!
  3. Are you a National Guard member or Reservist? If you served for 90 days or more in the Gulf War or have an honorable discharge after six years of service, YOU QUALIFY!
  4. Are you the surviving spouse of a vet? If your spouse died during service or as a result of service related injuries and you have not remarried, YOU QUALIFY!

These basic VA loan eligibility requirements will put you in a great position to qualify if you are buying a home that you will live in as your primary residence. It’s important to note that second homes, vacation homes, or investment properties don’t qualify.

What Are The Credit Requirements?

Although VA loans are backed by the federal government, it is local banks, mortgage companies, credit unions and other private lenders, such as our lender network, led by VA Loan Mortgages of Maryland, who grant and process the loans. That means that you have to show you are creditworthy in order to obtain the loan – just like you would for a conventional loan. Even lending institutions who want to assist Veterans have an important fiduciary obligation to make sure that the loan will be repaid.

Some loan criteria are a bit more flexible for Veterans, so it is crucial to work with an experienced lender who will work with the VA and help you obtain a mortgage if you are determined capable of repaying the loan – even if your credit history is less than perfect.

So where do Veterans get a break?

  1. Normally, applicants for conventional loans must have a debt to income ratio no more than 36%. This means that your credit cards and other loans and obligations do not make up more than 36% of you income. For VA loan eligibility, you can have a higher ratio of 41%.
  2. Additionally, unlike other conventional and FHA applicants who need to have anywhere from 3.5% to 20% in hand as a down payment on the loan, you do not have to have a down payment.
  3. As a Veteran, you may even qualify for mortgage limits higher than other applicants – up to $424,100 or higher in certain markets.
  4. Once you are in your house, your monthly mortgage payments will not be burdened with Private Mortgage Insurance (PMI), the usual penalty for borrowers with down payments less than the 20% required for conventional mortgages.
  5. You will enjoy a below market interest rate, considering current rates at the time you qualify.
  6. If you pay off your mortgage early, you are not subject to any prepayment penalties.
  7. Finally, you can even refinance your home with a VA loan to save money on your monthly payments.

All of these financial benefits make VA loans a great deal for those who qualify. Lenders such as are approved by the federal government to work with those who meet VA loan eligibility requirements. By filling out our online form, you can discover if you are approved in just a few minutes.

Help For Credit Problems

What happens if you don’t meet the credit requirements? If you had a recent bankruptcy or other credit issues that have lowered your credit rating, you may need to rebuild your credit a bit before you apply. Our representatives at can help you develop a plan to improve your credit through prompt payments so that you become a stronger candidate. We want to be a helpful partner who helps you claim your well-earned benefits.

At, we encourage you to determine your VA Loan Eligibility by applying online or by calling one of our representatives at (866) 216-3577. We can discuss your general concerns, advise you of the loan limit in your area, and offer guidance about your credit situation. Contact us today.