How to find out if you qualify for a VA loan
If you’re looking to buy a home, VA loans from Guaranteed Rate offer outstanding benefits to U.S. military members. Are you eligible? Read on to learn more about the requirements for VA loan eligibility.
- Veterans with two years of continuous active duty who were discharged at least under honorable conditions
- Veterans with six years of service in the Selected Reserves or National Guard and an honorable discharge
- Veterans with 90 days active duty wartime service and an honorable discharge
- Current members of the US Armed Forces
How can I prove eligibility?
- VA Form 26-8320, Certificate of Eligibility for Loan Guaranty Benefits OR
- VA Form 26-8320a, Certificate of Eligibility for Loan Guaranty Benefits (Reserves/National Guard)
- A Certificate of Eligibility is the only reliable Proof of Eligibility for the lender
What documents are required?
- Sales contract
- Application (FNMA 1003)
- 2 years signed tax returns and W-2 forms
- 30 days recent paystubs
- VA eligibility and DD-214
Additional Qualifications: Minimum 580 FICO score
Down payment requirements may increase due to loan attributes, so please contact your loan professional for more info.
At Guaranteed Rate, we’re proud to partner with the USO and their USO Pathfinder program to make sure transitioning military members and veterans get the guidance and support they need at every stage of the homebuying process. We also do our part to try to keep costs to VA borrowers low. For all of 2020, qualifying military homebuyers pay no lender fees (a common fee associated with most mortgages), which can save buyers up to $1290.
* Waived lender fee available for VA loans that have a triggered RESPA app date as of January 31, 2019 through January 1, 2021 at 12:00am EST. This offer does not extend to HFA loans. ‘Triggered RESPA’ in accordance with Regulation X, is defined as lender receipt of all six pieces of information received in a secure format; applicant name, property address, home value, loan amount, income and SSN. Not all borrowers will be approved. Borrower’s interest rate will depend upon the specific characteristics of borrower’s loan transaction, credit profile and other criteria. Contact Guaranteed Rate for more information and up to date rates.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.
Additional qualifying requirements will apply including, but not limited to, Lender obtaining VA borrower's COE (Certificate of Eligibility) to ensure VA borrower qualifies with sufficient eligibility and entitlement. Lender will obtain COE documentation directly, it may not be provided to Lender by VA borrower. Contact Guaranteed Rate for more information.
Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.