Benefits for Veterans

Author: VA Mortgage Center
Published: 17 Jun 2010 - Updated: 13 Jun 2013

Table of Contents:
Synopsis - Overview - Related Content

Synopsis

Eligibility for VA loans depends on when veterans served and they cannot have been discharged dishonorably and have served 181 days of active duty.

Overview

Wounded warriors may also be exempt from paying the funding fee for a VA loan if they receive disability compensation.

With more than 1,400 care sites, the VA operates the largest integrated health care system. To be eligible for VA health care benefits, veterans must have had a discharge that was not dishonorable and served in the active military, navy or air force.

For seriously injured veterans of Operation Enduring Freedom and Iraqi Freedom, the VA posted personnel at major military hospitals to help said veterans adjust to civilian life. The Transition Assistance Program offers three-day workshops designed to help veterans hunt for jobs and learn about VA benefits.

Veterans who are at least 65-years-old or permanently or completely disabled and have a low income likely qualify for annual pension.

The veteran must have at least 90 days of active duty, one of which was during wartime.

Discharges cannot be dishonorable and the disability cannot be attributed to the veteran's own misconduct.

Annual rates are determined by the veteran's countable income, spouse and number of dependents. Veterans who earned a Medal of Honor receive a monthly pension of $1,194.

Eligibility for VA loans depends on when veterans served, but generally, they cannot have been discharged dishonorably and must have served at least 181 days of active duty. However, early discharges for a service-related disability may waive the active duty requirement.

Certain mortgage guidelines do apply, but generally are much more accessible for veterans.

When considering applying for a VA loan, it's best to contact a VA certified lender.