10/28/2025
Based on the VA Lenders Handbook Pamphlet 26-7, here are the key details about VA loan benefits:
Eligibility Requirements:
A Veteran is eligible for VA home loan benefits if they:
Served on active duty in the Army, Navy, Air Force, Marine Corps, or Coast Guard after September 15, 1940
Were discharged under conditions other than dishonorable
Meet one of these service length requirements:
90 days or more during wartime, or
181 continuous days or more during peacetime [1]
Loan Benefit Details:
Eligibility means the Veteran meets basic criteria of length of service (LOS) and character of service (COS)
Entitlement is the amount a Veteran has available for a loan guaranty
An eligible Veteran must still meet credit and income standards to qualify for a VA-guaranteed loan [1]
Loan Fee Policy:
The VA Home Loan program is designed as a veteran's benefit
VA regulations limit the fees that the veteran can pay to obtain a loan
Lenders must strictly adhere to limitations on borrower-paid fees and charges [1]
Additional Loan Options:
VA may guarantee loans for:
Home construction (one-time or two-time construction loans)
Joint loans, which can include:
Veteran and one or more non-Veterans
Veteran and one or more Veterans not using their entitlement
Veteran and the Veteran's spouse (who is also a Veteran) using both entitlements [1]
Construction loans can also be refinanced under VA's cash-out refinance guidelines [1]
Sources / [1] VA Lenders Handbook Pamphlet 26-7
