Veteran eligibility and access to VA home loans expanded


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New changes passed by Congress and signed by the President have expanded Veteran eligibility and access to VA’s home loan program.

Public Law 116-315, “The Johnny Isakson and David P. Roe, M.D. Veterans Health Care and Benefits Improvement Act of 2020”

  1. Broadens the timeframe of Veterans qualifying for the Vietnam War era and has been revised to include those who served from November 1, 1955. The previous date was February 28, 1961.
  2. Authorizes benefit access for those service members and Veterans mobilized to perform full-time National Guard duty for not less than 90 cumulative days, including at least 30 days consecutive.
  3. Veterans, service members, and certain surviving spouses with VA-guaranteed home loans in areas that have been declared major disasters by the President and whose residences have been substantially damaged are now eligible to be charged a first time use funding fee on a new VA-guaranteed loan rather than a subsequent use funding fee. The new VA-guaranteed loan must be for the repair or construction of the dwelling and closed within three years of the presidential declaration of the disaster.

For more information about the VA Home Loan Program, visit https://www.va.gov/housing-assistance/home-loans/.

Veterans and service members interested in exploring VA home loan options or applying for a loan are encouraged to contact a mortgage lender of their choosing.

Author

Veterans Benefits Administration

Comments

  1. Susan Spahn    

    My husband passed away Feb. 28, 2021. Was I suppose to send a death certificate to receive and
    burial expenses?Also, since my husband served in the Army/Air Force and this home we bought on a VA loan, if I sell, move , I buy another home with a VA loan? Susan Spahn

    1. Todd Abelson    

      I’m sorry to read about your loss – My condolences. I hope things go well for your future…
      If your husband died as a result of injuries sustained while on active duty and you are receiving to will soon be receiving DIC (Dependency and Indemnity Compensation), you should have the ability to buy a home using a new VA loan…

  2. Daphne Dahlia    

    After working with the VA lender for 9 weeks. It is definitely NOT WORTH IT. I personally will never go through the VA again in this lifetime.

    1. Todd Abelson    

      I don’t know what wringer they put you through, but if you are receiving DIC (Dependency and Indemnity Compensation) it should be very easy to request and receive a VA Certificate of Eligibility…

  3. Robert E Crabbe    

    QUESTION:
    Can a VA loan be used by the childern of a veteran?

    1. Todd Abelson    

      Unfortunately no, if they will be the only occupant(s) of the property. They could, however, go on the loan with the Veteran if the Veteran was an occupant…

  4. Robert Geiler    

    Divorce temporarily is your only option.

  5. Robert Geiler    

    Divorce. Then get remarried after.

  6. Robert Geiler    

    It’s not real estate, and it is like buying a car. It’s a depreciating asset, and not real estate. That’s why.

  7. SW    

    I was denied the use of my va home loan. Why??? End result is I have bought and paid for my home without it, but I NEVER should have been denied especially after all the GAMES the bank played.

    1. Robert Geiler    

      What was the reason the lender gave you. Credit, DTI, income, etc.? You still have to qualify and VA is the easiest loan to qualify for.

  8. Marguerite j.Quintana    

    Apparently, I will never get to use my VA home loan benefits. I live in a 50/50 state which means; all our marital income and debt ratios are combined when determining qualification and amount for a mortgage loan.since my spouse isn’t interested in a mortgage and won’t sign, I will not get to use this opportunity. Furthermore, since his current debt exceeds his annual income,I can’t get my name off his debt. So, a “sole and single” document will not help me either. I have a 740 credit score that apparently has no meaning at all. So, what else can I do? Is Divor e my only option? I am moving out this month. I’m So done…..

  9. Dennis Schaefer    

    Why can’t veterans refi a manufactured home where one doesn’t own the land but pays rent in a manufactured home community? It isn’t fair, for any vets who served their country.

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