Reservists and members of the National Guard have access to the VA housing loan program. However, some may need to meet different eligibility criteria to obtain a VA housing loan permit, especially regarding service time requirements. Can national guard get a VA loan?
Some reservists and guards who have worked for at least 90 consecutive days of active service since August 2, 1990 may be eligible for a VA loan. Otherwise, Guard and Reserve members and veterans usually need at least six years of service and meet these other requirements:
- He was released honorably,
- He was placed on the list of retirees,
- He was transferred to the reserve or ready reserve element other than the reserve chosen after serving as honorary service,
- It is still used in the selected reserve.
Eligibility and income
Six years of service in the Guard or Reserves is a holistic requirement. Active members can qualify much earlier, usually if they have spent at least 90 consecutive days on active duty during the war.
Prospective buyers can talk to a Veterans United loan specialist about whether they qualify for the VA loan program. You do not need to have your Eligibility Certificate with you to start the VA mortgage process.
When everything happens, lenders may ask for DD-214, NGB-22 for members of the National Guard or a statement of points and a copy of the waiver statement for reservists.
Here’s a more detailed look at some of the documents that lenders may need:
- National Guard: NGB-22 or NGB-23
- Army Reserve: DARP Form FM 249-2E or ARPC Form 606-E
- Navy Reserve: NRPC 1070-124
- Air force reserve: AF 526
- Marine Corps Reserve: NAVMC HQ509 or NAVMC 798
- Coast Guard Reserve: CG 4174 or 4175
VA financing fee
Unless they are disabled for services, all VA borrowers pay a financing fee. This fee is transferred directly to the Department of Veterans Affairs and helps in continuing the program for future generations of service members and veterans. The percentage of the VA financing fee varies depending on the service, type of loan, and how many times you have used the program.
Buying a home with a VA loan
If you meet any of these conditions, you should be eligible to apply for VA certification. All members must obtain a VA certificate before they can qualify for a VA loan, regardless of what their service involves.
A certificate of eligibility can be obtained from the United States Department of Veterans Affairs. There are also additional conditions that members of the National Guard or Reserve must meet to obtain certification. They are only intended to ensure that you qualify and meet one of the criteria, this step should not be a problem. All of them are presented on the VA website.
Once you have obtained the eligibility certificate, you will be able to buy a home with a VA loan. The VA loan has many advantages, including some specific to some service technicians.