Looking For a VA Loan? Here Are 10 Things You Should Know About Eligibility

Jun 8
5 min read

If you’ve served our country, first of all, thank you. At Loangevity Mortgage, we believe those who have worn the uniform deserve the very best when it comes to the "American Dream" of homeownership.

I’m Paul Scheper, and with over 40 years in the mortgage industry, I’ve seen just about every loan program under the sun. From my time at Harvard and my MBA at USC to writing books on personal growth, my goal has always been simple: treat people right and solve their problems. That’s why we follow the "Golden Rule" of lending here.

VA loans are, quite frankly, one of the best financial benefits available to veterans and active-duty members. But the rules around eligibility can sometimes feel like a government maze. Let’s break down the 10 most important things you need to know about VA loan eligibility in 2026.

1. It’s Not Just for "War Veterans"

One of the biggest myths I hear is that you had to serve in a combat zone to qualify. That’s not true. Eligibility is open to:

Veterans who met active-duty service requirements.
Current active-duty service members.
National Guard and Reserve members.
Surviving spouses of service members who died in the line of duty or from a service-connected disability.

If you aren't sure where you fit, book a quick chat with me and we can pull the records for you.

2. The Minimum Service Time Rules

To qualify in 2026, you generally need to meet one of these thresholds:

Wartime: 90 consecutive days of active duty.
Peacetime: 181 days of active duty.
Active Duty: 90 continuous days.
Guard/Reserves: 6 creditable years, or 90 days under qualifying Title 32/Title 10 orders.

Keep in mind that "Basic Training" usually doesn't count toward that 90-day wartime clock. It’s a nuance that trips up a lot of folks!

3. Your Discharge Status is Key

To use your VA benefit, you generally need a discharge status that is "Other Than Dishonorable." If you were discharged for a service-connected disability or a "hardship," you might still qualify even if you didn't hit the minimum service time. If you have questions about your specific discharge paperwork, we’re here to help you navigate it.

4. The Certificate of Eligibility (COE) is Your Golden Ticket

A close-up of hands holding a Certificate of Eligibility

You can’t close a VA loan without a Certificate of Eligibility (COE). This document proves to the VA (and us, your lender) that you’ve served enough time and have "entitlement" available.

The good news? You don't have to wait weeks for the mail. We can often pull your COE instantly through the VA’s online portal. It shows us exactly how much of your benefit is ready to go.

5. VA Loans Have No "Official" Minimum Credit Score

Wait, really? Yes. The Department of Veterans Affairs doesn’t actually set a minimum credit score. However, because we (the lender) are the ones providing the money, most lenders have their own internal requirements (called "overlays").

In 2026, most lenders look for a score around 620, though at Loangevity Mortgage, we pride ourselves on creative problem-solving. If your score is a bit lower, we look at the whole picture, your income, your service history, and your goals, to see how we can get you over the finish line.

6. The Home Must Be Your Primary Residence

VA loans are designed to help you buy a home, not an investment empire. You (or your spouse, if you’re deployed) must intend to move into the home within about 60 days of closing. You can’t use a VA loan to buy a vacation cabin in the mountains unless you plan to live there full-time.

However, there is a "pro-tip": You can buy a multi-unit property (up to 4 units) with a VA loan as long as you live in one of the units!

7. No Loan Limits for Full Entitlement

Since 2020, if you have your "full entitlement" (meaning you don't currently have another VA loan active), there is no maximum loan limit. The only limit is how much we can approve you for based on your income and debts. Whether you’re looking at a $400,000 starter home or a $1.5 million property, your VA benefit can cover it with $0 down.

8. The VA Funding Fee (And Who Skips It)

Most VA borrowers pay a one-time "Funding Fee" that helps keep the program running for future veterans. It’s usually between 1.25% and 3.3% of the loan amount, and you can roll it into the loan so you don’t pay it out of pocket.

Crucial Point: If you receive VA disability compensation (even just 10%), you are usually exempt from this fee. This can save you thousands of dollars at closing.

9. Survival Spouses Have Unique Benefits

If you are the surviving spouse of a veteran who died in service or from a service-connected disability, you may be eligible for a VA loan. Not only that, but surviving spouses are typically exempt from the VA funding fee. It’s a small way the country tries to take care of the families of those we’ve lost.

10. You Can Use the Benefit More Than Once

Your VA eligibility isn't a "one-and-done" deal. You can use it, sell the house, pay off the loan, and restore your entitlement to use it again. You can even have two VA loans at once in certain situations, like a Permanent Change of Station (PCS).

Why Trust Loangevity Mortgage?

Navigating VA loans requires a partner who knows the ropes. At Loangevity Mortgage, we are a Better Business Bureau (BBB) Member in Good Standing with a reputation we’ve worked hard to build over decades. We maintain a 4.9+ star rating because we don't just "process" loans; we build relationships.

When you work with us, you aren't just getting a mortgage officer; you’re getting a team that understands the nuances of the market. Whether it's explaining the tax implications of a reverse mortgage for a senior veteran (yes, that’s a thing!) or helping a first-time buyer understand how reverse mortgages really work for today's retirees, we bring 40 years of expertise to the table.

Check out our reviews at WhyPaulScheper.com to see what your neighbors have to say.

About the Author: Paul Scheper

Paul Scheper isn’t your average mortgage guy. A graduate of Harvard University with an MBA in Finance from USC, Paul has dedicated his career to financial education and community service. He holds prestigious designations including CRMP (Certified Reverse Mortgage Professional), CSA (Certified Senior Advisor), and SRES (Senior Real Estate Specialist).

Beyond the numbers, Paul is a "Man of Character" (literally: he received the Orange County Man of Character award in 2004). He’s been married to his high school sweetheart for 44 years, is a proud father of two, and has been the "voice" of Santa Margarita High School football as their announcer for over 15 years. He’s also the author of "The Psychology of Improvement: The ABC's of Self-Improvement," a testament to his belief that we should always be striving to be better for our clients and ourselves.

Ready to see if you qualify for a VA loan? Don't stay in the dark. We pride ourselves on proactive, frequent communication. Give us a call or visit us online: we’d be honored to serve you.