LowVARates

There are some basic rules of thumb―currently on active duty for at least 180 days, 90 days of war service, 180 days of peacetime service before the 1980’s, or 24 months of continuous service after the 1980’s, or 6 years in the Guard or Reserves, or the surviving (un-remarried) spouse of service member who died on active duty or due to a service related disability. Of course these requirements assume an honorable discharge, but disability or hardship discharges are also acceptable. Just because you don’t fit these categories doesn’t mean you aren’t eligible either. There are other categories of acceptability, like cadets of Coast Guard , Military or Air Force Academies, midshipman from the Naval Academy , or officers from the National Oceanic and Atmospheric Administration. I admit I had to look that one up…try Googling NOAA. The complete list of eligibility is hard to find.

Once you think you meet the eligibility requirements you need to get an eligibility certificate. The easiest way is to let your lender file for it electronically, but this only works for those who are in the VA records system. Basically, you have to file VA form 26-1880 with proof of service and mail it to the eligibility center in North Carolina. Unless you are the surviving spouse, then use form 26-1817. I couldn’t find a separate form for the special categories, but you might have to call the VA Loan Eligibility Center at 1-888-244-6711 for more information.

Don’t be overwhelmed; if you have a good loan officer they’ll make it easy. It’s his or her job to know all this, not yours. Next time: Reusing VA eligibility, Can I obtain another VA loan?

Resources: http://www.homeloans.va.gov