I think I have read this the right way, but I wanted to double check from some people experienced with VA loans. As far as the requirements go, you must server either 181 consecutive days (Peace time) or 90 consecutive days (War time) in any branch. You are also eligible as long as you did not recieve anything besides other than honorable?

The reason I asked is because I was generally discharged from the Air Force. While in the AF I served more than 181 consecutive days active duty. I am now currently in the Army NG but haven't been deployed yet so I haven't met the requirements for 181 days via drill. I am just wanting clarification that even though I recieved a general discharge in the AF, I am still eligible for the loan due to serving 181 days active duty.

NM, think I found my own answer. Had to serve 24 months beforehand, which I did not. So guess I have to server my 6 years on guard duty

My assumtion is 'Gulf War - Service during period 8/2/1990 to date yet to be determined'

90 days active duty during iraqi freedom i.e Gulf War. Im only assuming.

>>You are also eligible as long as you did not recieve anything besides other than honorable?

Veterans are eligibile as long as they didn't receive a "dishonorable" Jeff. The other types are acceptable, and most folks who received a "general" can have it upgraded to "honorable" after they've been out of the service for 6 months.

If you're short on time for VA eligibility, check out FHA's VA program. You'll still receive 100% financing.

quote:

If you're short on time for VA eligibility, check out FHA's VA program.

Ok, first off, IT DOES NOT TAKE ANY ADDITIONAL TIME TO ORIGINATE A VA LOAN THAN ANY OTHER TYPE OF LOAN!

FHA's program is for veterans that are eligible for the VA loan yet lack sufficient [I]entitlement [I/]. A certificate of eligibility is still required and any approved VA lender can get that in 30 seconds through ACE.

Paul
See my profile for contact information

When I said "short on time" I wasn't referring to the amount of time it takes to originate a VA home loan, I was referring to the amount of time the Veteran was on active duty to determine eligibility.

FHA's program works well for Veterans who fall into the following categories:

• Veterans with less than full eligibility for a VA guaranteed loan (to me - short on time)
• Veterans who are co-borrowers with someone other than a spouse
• Veterans whose eligibility is tied up until a loan that was assumed is paid off or the veteran is released from all liability
• Veterans re-using their eligibility and whose new loan under VA may have a funding fee greater than FHA’s mortgage insurance premium