VA Loan Eligibility

We at MortgageDepot truly enjoy helping veterans. While it may sound cliche, helping those who have helped us so much get into a nice home is a part of our work that we truly enjoy.

One challenge many find is that the eligibility rules for a VA loan can be a bit murky. We are here to clear up any misconceptions by breaking down these rules by active duty and reserve service time. Also, we cannot emphasize enough the 90-day rule during times of war.

The 90-day Rule

Any service member who served for any continuous 90-day period during a time of war (including time from August 2, 1990 to the present) is eligible for a VA loan. This includes young marines who are just graduating from basic training, reservists called for a national emergency or overseas deployment, and those with multiples tours under their belts.

For many serving over the past 33 years, this alone will qualify.

Active Duty Requirements During Peace Time

For active duty service members serving during peace time, a VA loan can be obtained after 24 months of service. This can include a full 4-year contract from 1985-1989 or that same contract had it ended prematurely after 2 years.

Reserve Requirement for Those who Cannot Utilize the 90-day Rule

Some reservists currently serving may not qualify for the 90-day rule. Most basic training courses do not last 90 days, and some MOS schools are less than three months. In addition to this, not all who volunteer are called to deploy overseas.

Under these circumstances, we at MortgageDepot teach that in order to qualify you must serve a full 6-year contract and receive an honorable discharge or fall under retirement status, be if from time in service or injury incurred in service.

Contact one of our loan consultants to learn more about this program.