To Quickly Determine if you are Eligible for a VA loan, you must answer yes to one of the following questions:
Have I served at least 90 days in Active Duty?
Have I served 6 Years in the Reserves or National Guard?
Am I a surviving Spouse of a veteran?
If retired, did I get Honorably Discharged?
If you answered yes to any of these questions, then it is likely you have VA Eligibility. Now, to determine if you qualify for a mortgage, it is important to answer YES to ALL questions:
Do I have at least a 620 Credit Score?
I do not currently have a VA loan, or will sell my house before I close on the new VA loan?
Is my combined income from my spouse and myself at least twice what my new mortgage payment will be including taxes and insurance?
I have not had a foreclosure or bankruptcy in the last 3 years?
Am I purchasing or refinancing a property worth at least $100,000?