Eligibility

What are VA loan requirements?

Short answer

VA loan requirements stack in two layers: VA's program rules (service history, Certificate of Eligibility, primary-residence occupancy, VA appraisal meeting Minimum Property Requirements) and the lender's underwriting (credit, income, debt-to-income, residual income, assets, employment history). Both layers have to clear before the loan closes.

Plain-English explanation

The VA layer: service history meeting VA's published thresholds, character of discharge confirmed by the Certificate of Eligibility (COE), borrower intends to occupy the home as primary residence, and the property passes a VA appraisal under VA's Minimum Property Requirements. The lender layer: credit score (no VA-set minimum but most lenders want 580–620+), documented income with stable two-year history, debt-to-income that fits within lender overlays, residual income meeting VA's regional/family-size table, sufficient assets to cover cash to close, and any program-specific items like funding-fee handling. Lender overlays sit on top of VA's rules and often tighten them. Subject to VA guidelines.

Practical example

A Florida veteran with 6 years of active duty (VA layer ✓), a 640 credit score and clean recent history (lender layer ✓), full-time W-2 income with two years on the same job (lender layer ✓), a 42% DTI with $1,200 residual income (lender layer ✓), and a property that passes the VA appraisal — both layers clear, file moves to closing. Any one of those layers failing kills the deal.

What can change the answer?

Service-history records, character-of-discharge review, and surviving-spouse DIC determinations can change VA eligibility. Lender overlays may add to VA's rules.

Your next step

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