VA Loan Requirements

VA Loan Service Requirements

Usually, for an active duty service member or Veteran to be eligible for a VA Home Loan, they will need to have served according to the following:

• 181 Days of Peacetime Active Duty Service
• 91 Days of Wartime Active Duty Service
• 6 Years of Reserves or National Guard Service
• You are the spouse of a service member who was killed in the line of duty
  • (click here for specific details on VA Home Loan eligibility)

VA Loan Income Requirements

Debt to income ratio (DTI) is the commonly used ratio to determine the loan amount a borrower can qualify for.  However, a VA Loan is primarily reviewed using what is known as the residual income calculation.  This calculation determines if a Veteran has enough income to cover living expenses after paying the mortgage, housing expenses, taxes and other debts like car loans or credit cards.

VA Loan Credit Requirements

VA Loans do not have a minimum credit score requirement per the VA Loan guidelines.  However, most lenders do require a minimum credit score.  Most VA lenders will only go down to a 640 or maybe a 620 credit score.  However, VALoancenter.net works with lenders with credit score requirements as low as 600.

If you have had a bankruptcy in your past, you can still qualify for a VA Home Loan.  However, since being discharged you must have 12 months of clean credit history, or the Bankruptcy was a Chapter 7, then you must wait at least two years from the discharge date to apply for a VA Loan.

VA Loan Certificate of Eligibility

In order get a VA Home Loan, you will need a VA Certificate of Eligibility (COE). When you apply for a VA Home Loan, your VA Loan Specialist will obtain your VA Home Loan Certificate for you.

Get Started on Your VA Loan Now!!

Call our toll free number (888) 890-3967 or fill out the short form to the right and a VA Loan Specialist will help you get started.  Pre-Qualification is free and there is no obligation.