VA Update
The Department of Veterans Affairs announced the expanded veteran eligibility for the home loan benefit to certain members of the National Guard via Circular 26-21-08.
Under the new eligibility criteria, the veteran member must have performed not less than 90 cumulative days of full-time National Guard duty, of which, at least 30 of those days must have been consecutive. Full-time National Guard duty includes training or other duty as a member of the National Guard of a State or territory. However, Full-time National Guard duty does not include inactive duty, such as monthly drills. It also does not include basic or initial training.
Lenders must confirm eligibility by obtaining a Certificate of Eligibility (COE).
Please refer to the Circular 26-21-08 to see full details of the announcement.
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