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VA Home Loan Guaranty Benefits

 

Overview

Eligible veterans and service personnel may obtain GI loans made by private lenders for a home, manufactured home and/or lot, or certain types of condominiums. An existing VA loan on a home owned by a veteran may be refinanced in order to lower the interest rate. Recorded liens may also be refinanced on property owned and occupied by the veteran as the veteran's home. Such loans are also available to unmarried surviving spouses of service personnel who died on active duty or as a result of service-connected disabilities. Spouses of service personnel who have been missing in action for more than 90 days, captured in line of duty by a hostile force or forcibly detained or interned in line of duty by a foreign Government or power are eligible for home loans. VA direct loans are available to certain eligible veterans with permanent and total service-connected disabilities only to supplement a grant to acquire a specially adapted home. Entitlement to loan guaranty benefits is available until used.

To obtain a VA home loan, you must apply for a Certificate of Eligibility. Send a completed VA Form 26-1880 (Request for Determination of Eligibility and Available Loan Guaranty) and attach a copy of your DD214 (Discharge). Responses take about 3-4 weeks. Mail to:

VA Loan Eligibility Center
PO Box 20729
Winston-Salem, NC   27120
1-888-244-6711

Accurate determinations of eligibility can be made only by VA. You should not obligate yourself for the purchase of a home, condominium, or manufactured home solely on the basis of this information. Before undertaking any such obligations, contact the VA directly concerning your eligibility for the benefit.
 

Specially Adapted Homes

You may be entitled under certain conditions to a VA grant to purchase or build a home specially adapted to your needs or make adaptations to your existing home.
To be eligible for this grant you must have a service-connected disability entitling you to compensation for permanent and total disabilities, and be entitled to special monthly compensation for loss of use.
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SERVICE ELIGIBILITY FOR VA HOME LOAN

Wartime Service

If you served on active duty for at least 90 consecutive days during a period of wartime and were discharged under other than dishonorable conditions, or if less than 90 days, were discharged because of a service-connected disability.

World War II (September 16, 1940 to July 25, 1947)
 

Korean Conflict (June 27, 1950 to January 31, 1955)
 

Vietnam Era (August 5, 1964 to May 7, 1975)  For veterans who served in the Republic of Vietnam, the beginning date is February 28, 1961.
 

Persian Gulf War period (August 2, 1990 and ending by Presidential proclamation)  Veterans of Gulf War era must generally complete 24 months of continuous active duty or the full period (at least 90 days) for which they were called or ordered to active duty.

Reservists and National Guard members are eligible if they were activated after August 1, 1990, served at least 90 days, and received an honorable discharge.

 
Peacetime Service

You must have served at least 181 days of continuous active duty unless discharged early for service-connected disability, and been discharged or released under conditions other than dishonorable. If your service fell entirely within any one of the following periods:

  • July 26, 1947 to June 26, 1950,
  • February 1, 1955 to August 4, 1964, or
  • May 8, 1975 to September 7, 1980 (if enlisted) or to October 16, 1981 (if officer)

If service was between September 8, 1980, (October 16, 1981 for officers) and August 1, 1990, veterans must generally have:

  • Completed 24 months of continuous active duty or the full period (at least 181 days) for which you were called or ordered to active duty, and have been discharged or released under conditions other than dishonorable; or
  • Completed at least 181 days of active duty and been discharged or released from active duty under section 11 71 "early out" or 11 73 "hardship" of title 1 0, U.S. Code, reduction-in-force, certain medical conditions, or
  • Been discharged for a service-connected disability.

Active Duty Service Personnel

If you are now on active duty, you are eligible after having served on continuous active status for at least 181 days (90 days if you served during the Persian Gulf War), regardless of when your service began.

Under certain conditions, you may be eligible to use the benefit more than once if you can meet the requirements for restoration of entitlement or substitution of entitlement. The local VA office can provide specifics concerning these requirements.
 

Members of the Selected Reserve

Individuals are eligible if they have completed at least six years of honorable service in the reserves or National Guard or were discharged because of a service-connected disability.  Reservists who do not qualify for VA housing loan benefits may be eligible for loans on favorable terms insured by the Federal Housing Administration (FHA) or the Department of Housing and Urban Development (HUD).

More Information

* Our office will assist you in completing VA Form 26-1880, Request for A Certificate of Eligibility For VA Home Loan Benefits. Please contact Mecklenburg County Veterans Services at 704-000-0000. Walk in assistance is available at our office located at Hal Marshall Service Center 000 N. Tryon Street, Charlotte, NC.
 
Home Loans Guaranty Services website



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