Page 8 - Desert Oracle March 2019

• VA may be able to provide you some assistance if you run into difficulty making

payments

An additional benefit to the loan is that you don’t have to be a first time buyer, you can

reuse the benefit and the loans are assumable.

To be eligible for the VA Loan, veterans, active duty service members, National

Guard members, and reservists must meet the necessary service requirements set forth

by the Department of Veterans Affairs. Spouses of military members who died while on

active duty or as a result of a service-connected disability may also be eligible. Keep in

mind, it is ultimately up to the VA to determine eligibility for the home loan program, but

prospective borrowers can get a good idea by looking at the VA's basic eligibility

guidelines.

The Eligibility Requirements for VA Home Loans:

Service During Wartime:

World War II - September 16, 1940 to July 25, 1947

Korean War - June 27, 1950 to January 31, 1955

Vietnam War - August 5, 1964 to May 7, 1975

Service Requirements

• At least 90 days active duty - with other than dishonorable discharge

• Less than 90 days active duty - if discharged for a service-connected

disability

Gulf War - August 2, 1990 to be determined