VA Home Loans: What Tri-State Veterans Need to Know About One of Their Most Powerful Benefits

If you’ve served in the U.S. military, you’ve earned access to one of the most valuable homeownership tools available: the VA home loan.

Yet in my years helping families buy and sell homes across the Huntington area, I’ve met too many veterans who either don’t know they qualify or don’t understand how powerful this benefit really is.

This article breaks down VA loan eligibility, requirements, and what you need to know if you’re considering buying a home in the Tri-State.

Why VA Loans Matter

A VA loan allows qualifying borrowers to finance up to 100% of their home’s value with no down payment and no mortgage insurance. You also get competitive interest rates and can roll most closing costs into the loan. The only additional cost is a VA funding fee, which is waived for veterans with service-related disabilities.

For veterans and their families, this benefit can mean the difference between renting and owning, or between struggling to save for a down payment and buying a home now.

Am I Eligible?

You might qualify for a VA loan if you meet one or more of these service requirements:

• You served 90 consecutive days of active duty during wartime.
• You served 181 days of active duty during peacetime.
• You completed 6 years of service in the National Guard or Reserves.
• You are the spouse of a service member who died as a result of their service.

Veterans who were honorably discharged may also qualify if they were discharged for hardship, convenience of the government, reduction in force, medical conditions, service-related disability, or early-out (as long as you served at least 21 months of a 2-year enlistment).

Eligibility by Service Period

The minimum service requirement depends on when you served. Here’s a breakdown:

Veterans:

• WWII (9/16/1940 – 7/25/1947): 90 total days
• Post-WWII (7/26/1947 – 6/26/1950): 181 continuous days
• Korean War (6/27/1950 – 1/31/1955): 90 total days
• Post-Korean War (2/1/1955 – 8/4/1964): 181 continuous days
• Vietnam War (8/5/1964 – 5/7/1975): 90 total days
• Post-Vietnam War (5/8/1975 – 8/1/1990): 181 continuous days
• Gulf War (8/2/1990 – present): 24 continuous months or the full period of active duty (at least 181 days)

Active Duty Members: Active duty members must serve at least 90 total days, or fewer than 90 days if discharged for a service-related disability.

National Guard Members: National Guard members who served from August 2, 1990 to the present must have served at least 90 days of active duty. Those who served at other times must meet one of these requirements:

• Minimum 90 days of non-training, active-duty service.
• Minimum 90 days of active-duty service, including at least 30 consecutive days.
• 6 creditable years in the National Guard with an honorable discharge or retirement placement.

Military Reserve Members: Reserves who served from August 2, 1990 to the present must have served at least 90 days of active duty. Those who served at other times must meet one of these requirements:

• Minimum 90 days of non-training, active-duty service.
• 6 creditable years in the Selected Reserve.

You must also be currently in the Selected Reserve, placed on the retired list, honorably discharged, or transferred to the Ready Reserve, Standby Reserve, or another military branch after completing honorable service.

Surviving Spouses: Spouses of service members may be eligible if:

• You were previously married to a veteran who died while in service or from a service-related disability, and you have not remarried.
• You are currently married to a service member who is a prisoner of war or missing in action.
• You are a surviving spouse who remarried after turning 57, on or after December 16, 2003.
• You are a surviving spouse of a veteran with a certain total disability, who may have died for reasons unrelated to their disability.

What You’ll Need

Once you’ve confirmed your eligibility based on service requirements, you’ll need to meet a few additional requirements:

Certificate of Eligibility (COE): Most lenders can pull your COE using your social security number and date of birth. You can also access it on the VA’s website by logging into your account and navigating to the Home Loan Certificate of Eligibility section.

Primary Residence: VA loans are meant for primary residences. Second homes, vacation rentals, and investment properties don’t qualify. Condos are eligible as long as they’re listed on the VA’s approved condo list. If the condo you want isn’t listed, you can request a customized condo report.

Lender Approval: Although VA loan eligibility isn’t limited based on credit or income, lenders will still assess your credit reports, income statements, and debt-to-income ratio before approving your application. Most lenders prefer DTI ratios of 43% or less, credit scores of 620 or above, and stable income.

The Bottom Line

The VA home loan is one of the most powerful benefits available to veterans and their families. It removes the biggest barrier to homeownership, the down payment, and makes buying a home more affordable from day one.

If you’ve served our country, you’ve earned this benefit. Don’t let confusion or uncertainty keep you from using it.

I’ve helped dozens of veterans and their families navigate the VA loan process here in the Tri-State area. If you have questions about your eligibility or want to talk through how a VA loan could work for you, reach out. I’m here to help.

Brody Nash | Century 21 | Serving Veterans and Families Across the Tri-State