VA Loan Eligibility

VA loan eligibility differs from qualifying. To see if you qualify, you must first determine if you’re eligible. In short, you must have served in the military, Reserves, National Guard, or be a spouse of a veteran that lost their life due to their service.

Time Served

To be eligible for a VA loan, you must have served adequate time in the military. You must meet one of the following to meet the time served requirements:

  • 90 days during wartime
  • 181 days during peacetime
  • 6 years of service in the National Guard or Reserves
  • Your spouse died while in the line of duty

Discharge Type

Your discharge type also determines your eligibility. Even if you had enough time served, but don’t meet the discharge requirements, you may not be eligible.

Overall, you should have any type of discharge except dishonorable, but this also includes being discharged for a hardship, for a medical condition, or an early-out, but you served at least 21 months of a 24-month enlistment.

Obtaining your Certificate of Eligibility (COE)

To prove your eligibility for a VA loan, you’ll need your Certificate of Eligibility. There are a few ways to get it, and you don’t need it to get pre-approved, but will need it to close on your loan. The COE is what tells lenders you meet the minimum service requirements and are eligible for a VA loan.

There are three ways to get your COE.

Apply Through the eBenefits Portal

You can log into your VA eBenefits portal and secure your COE. The system walks you through the process and you’ll receive your certificate quickly.

Send VA Form 26-1880 to the VA

You can complete VA Form 26-1880 and send it to the address on the form. This method takes the longest to get your COE because you’re dealing with snail mail and manual processing of your form.

Ask your Lender

Many lenders can secure your COE for you with just your social security number and birthdate. They can receive the COE instantly, moving the underwriting process along faster.

Surviving Spouses and COEs

Surviving spouses have two ways to secure a COE. It depends on one factor – are you receiving Dependency and Indemnity Compensation? No matter which forms you complete below, you must also provide your veteran’s death certificate and your marriage certificate to get a COE.

If you are, complete VA Form 26-1817 (as long as you are unmarried) and provide a copy of your veteran’s separation paperwork.

If you aren’t receiving Dependency and Indemnity Compensation, complete VA Form 21P-534EZ and send it to your local VA Pension Management Center.

How Eligibility Differs from Qualifying

You might think if you’re eligible you qualify for a loan, right?

That’s not how it works.

They are two different scenarios. When you are eligible, it means the VA will guarantee your loan because you earned the VA home loan benefit.

To qualify, though, you must prove you can afford the loan. This means you must prove you meet the lender’s credit requirements, have a low enough debt-to-income ratio, have stable income, enough assets, and enough disposable income to not be a high risk of default.

An underwriter will determine if you qualify for the loan, but the VA determines if you’re eligible.

Do you Need a COE to Apply for a Loan?

Applying for a VA loan happens in a couple of steps. While you don’t need your COE to apply for a loan, it’s a good idea so you know if you’re eligible or not. If you’re not eligible, there are many other loan programs for you to use.

If you don’t have your COE during pre-approval, that’s okay, but you’ll need it before you can get too far into the underwriting process. The sooner you obtain your COE, the faster you can close on your loan.

VA Loan from a fellow Vet & proven local lender

My City Mortgage is veteran-owned and the best choice for VA homebuyers!

VA Loan Family
We are veterans serving veterans on the path to homeownership.

Purchase your home with as little as 0% down payment.

VA Streamline Refinance with a reduced funding fee and flexible documentation requirements – available for veterans currently in VA loans.

Veteran-Owned Company.

Jumbo VA loans available.

30, 25, 20 and 15-year terms are all available with fixed rates.

No monthly PMI (Private Mortgage Insurance).

VA loans are governed by the U.S. Department of Veterans Affairs.

Pay your mortgage off at any time without pre-payment penalties.

Our goal is to provide excellent customer service.

Lori H

I’ve had the best experience for being a first time homebuyer,everyone was beyond helpful and explained all the steps in detail to someone with zero knowledge of the home buying process.

David A

My City was fantastic to work with. They were extremely knowledgeable and answered all questions quickly.

James S

Honestly, the process of me receiving and acquiring my mortgage was professional, efficient, and satisfying. I want to thank everyone at My City for they have done for me.

Our promise

We strive to provide Veterans with a smooth, transparent loan process.
We spend time with our clients upfront so we can place them in the most suitable, affordable loan program possible.

Our goal is to avoid any confusion or frustration that might come along with the home buying process!

VA Loan Family

about us

My City Mortgage strives to provide applicants with a smooth, transparent loan process.

We spend time with our clients upfront so we can place them in the most suitable, affordable loan program possible. Our prequalification step includes a detailed review of an applicant’s future monthly payment as well as the total amount of money that will be needed at closing. Our goal is to avoid any confusion or frustration that might come along with the home buying process!

The most important part of our process for buyers and agents is protecting them from rushed or misleading pre-approvals.

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