VA home loans are a great option for eligible service members, veterans, and their families to achieve the dream of homeownership. Here is a list of who qualifies for VA home loans:
- Active duty service members with at least 90 consecutive days of service during wartime or 181 days of service during peacetime
- Veterans who have served at least 90 consecutive days of service during wartime or 181 days of service during peacetime
- National Guard and Reserve members who have completed at least six years of service
- Spouses of service members who died in the line of duty or as a result of a service-related disability
- Surviving spouses who have not remarried
It's important to note that meeting the eligibility requirements does not guarantee approval for a VA home loan. Borrowers must also meet credit and income requirements set by the lender. Additionally, VA home loans are only available for the purchase of primary residences, not investment properties or vacation homes.
Overall, VA home loans offer flexible terms, low interest rates, and no down payment requirement, making them an attractive option for those who qualify. If you think you may be eligible for a VA home loan, it's worth exploring this option with a lender who specializes in VA loans.