| ELIGIBILITY REQUIREMENTS |
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· Functional Categories |
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Homebuying, Homeownership
Home Improvement |
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· Applicants |
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Individual/Family
Specialized Group (Health Professional, Student, Veteran) |
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· Applicant Eligibility |
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(a) Veterans who served on active duty on or after September 16, 1940, and were discharged or released under conditions other than dishonorable. Veterans who served any time during World War II, the Korean Conflict, the Vietnam-era, or the Persian Gulf War must have served on active duty 90 days or more; veterans with peacetime service only must have served a minimum of 181 days continuous active duty. All veterans separated from enlisted service which began after September 7, 1980, or service as an officer which began after October 16, 1981, must also have served at least 24 months of continuous active duty or the full period for which the person was called or ordered to active duty. Veterans of such recent service may qualify with less service time if they have a compensable service- connected disability or were discharged after at least 181 days (90 days during Persian Gulf War) under the authority of 10 U.S.C. 1171 or 1173; (b) any veteran in the above classes with less service but discharged with a service-connected disability; (c) individuals may also be eligible if they were released from active duty to an involuntary reduction in force, certain medical conditions, or in some instances, for the convenience of the Government; (d) unmarried surviving spouses of otherwise eligible veterans who died in service or whose deaths were attributable to service-connected disabilities; (e) service personnel who have served at least 181 days on continuous active duty status (90 days until the ending date for the Persian Gulf War has been set); (f) the spouse of any member of the Armed Forces serving on active duty who is listed as missing in action, or as a prisoner of war, and has been so listed for a total of more than 90 days; (g) members of the Selected Reserve who are not otherwise eligible for home loan benefits and who have completed a total of six (6) years in the Selected Reserves, followed by an honorable discharge, placement on the retired list, or continued service. Individuals who completed less than 6 years may be eligible if discharged for a service connected disability. Eligibility for Selected Reservists expires September 30, 2009. Applicants must have sufficient present and prospective income to meet loan repayment terms and have a satisfactory credit record. |
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· Beneficiaries |
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Veteran/Service person/Reservist (including dependents) |
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· Beneficiary Eligibility |
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Veterans, servicepersons, and certain unmarried surviving spouses of veterans. |
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· Credentials/Documentation |
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Evidence of the veteran's service or certificate of eligibility for loan benefits issued by the Department of Veterans Affairs. Loan applications submitted by lenders must be accompanied by verification of income of the applicant and a credit report. |
See AidPage for more information on:
Veterans Housing_Manufactured Home Loans
Federal Money Retriever® GrantGate®
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