How Do You Qualify For a Veterans Affairs Home Loan

Updated: May 30, 2021

If you are a veteran of the United States Armed Forces, an active duty service member or a spouse of a veteran, you may be eligible for a Veterans Affairs (VA) home loan or a VA-backed home loan. There are certain requirements that must be met in order to be eligible. To find out if you're eligible, the first item on your agenda is to contact one of the best VA home lenders to help you.

Certificate of Eligibility

You will have to apply for a Certificate of Eligibility (COE) to show your VA home lender that you qualify. According to the website, your qualification is based on your service history and duty status. There are VA home care benefits for spouses who meet certain eligibility requirements as well.

Price of Home You Qualify For

Your VA home lender will help you determine the price of a home you are qualified for using a VA home loan affordability calculator USA. He will explain the interest rates for a VA home loan. VA loan rates are typically lower than interest rates with other mortgage programs.

Income and Credit Requirements

For a VA home loan, you do need to meet your lender's income and credit requirements.

However, for a VA home loan, income and credit requirements are lower than what is required for other mortgage programs. This helps qualified veterans, active duty service members and select spouses be able to become homeowners.


If you don't meet the minimum service requirements because of discharge, you still may be able to get a COE. If you've experienced hardship, a certain medical condition or a service-connected disability, you may be eligible if you've been discharged. Also, if the government gave you an "early out" or if there was a reduction in force, you may still be eligible. There are other situations in which you may be able to receive a COE if you don't meet the eligibility requirements. That's why it's so important to work with a lender who specializes in VA home loans. He will help you determine your eligibility if it is questionable.

Loan Options

There are different VA home loan options available for you if you are purchasing a home or refinancing a home. If you use a VA home lender, you may receive better terms than with a private lender. There is a purchase loan, an Interest Rate Reduction Refinance Loan (IRRRL) and a Cash-out refinance loan available.

Once you receive your COE, work with your VA home lender to continue the process of buying your home.
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