Eligibility

Do you qualify for a VA Loan

The best way to make sure you qualify for a San Diego VA loan is to contact me. Here is some basic qualification information to help:

You Are Eligible For A VA Home Loan If You…

–Served 90 days or more of active duty during wartime OR Served 181 days of active duty during peacetime

–Were discharged under circumstances other than dishonorable

–Are still on active duty and meet the time requirements above

–Are a surviving unmarried spouse of a veteran who died during or because of service related injuries.

Other factors that help determine qualification for military loans in San Diego: Satisfactory recent credit history: Your actual score is not a determining factor, however the previous twelve months of your credit history will be evaluated to make sure that you have a satisfactory history of making timely payments.

To check your qualification, start a free application.

If you have filed bankruptcy within the past two years you are not automatically disqualified, although your bankruptcy must be discharged. You may still qualify for a Veteran Home Loan even if you had a bankruptcy. If your bankruptcy was caused by circumstances out of the control of the applicant or spouse and the circumstance is verified, then you may still qualify. Such circumstances include unemployment, strikes occurring for a long duration, medical bills not covered by insurance, as well as others. To check your qualification, start a free application.

Satisfactory residual income: Veteran Loans require that borrowers have a certain amount of “residual” income available to them after making all mortgage and credit payments each month. To check your qualification, start a free application.

Employment Stability: The veteran, and the veteran’s spouse, if they choose to be on the loan, should have been working in the same line of work for the past two years. In addition, the employment must be expected “to continue during the foreseeable future”. Any gaps in employment must be explained before a decision can be made. To check your qualification, start a free application.