ELIGIBILITY REQUIREMENTS:
Active Duty: The amount of time required to be on active duty varies depending on the time frame in which one served in the military. The time ranges anywhere from 90 days to 2 years.

Selective Reserve: Includes those who are not otherwise eligible for home loan benefits.

1. Discharged with an honorable discharge

OR

2. Placed on the Retired List

OR

3. Transferred to the Standby Reserve or an element of the Ready Reserve other than the Selective Reserve after completing honorable service in the Selective Reserve

OR

4. Continue to serve in the Selective Reserve

SELECTIVE RESERVE DEFINITION:
Selective Reserve or the Ready Reserve (six years) of any of the reserve components which consists of units and individuals who participate actively in paid training periods and serve on paid active duty for training each year. This includes the Army, Navy, Air Force, Marine Corps and Coast Guard reserves as well as the Army National Guard and the Air National Guard. Eligibility derived under this provision expires 7 years from the date of enactment of the law.

MISCELLANEOUS ELIGIBILITY:
Eligibility is passed on to an unmarried spouse of a veteran killed in action or who died due to service related injuries or who has been determined to be missing in action

REINSTATEMENT OF ELIGIBILITY:
VA Benefits can be used more than once, but there are only two ways to retain full entitlement once it has been used:

1. Sell the property and have the VA loan paid off.

2. Sell the property to another veteran who completes a Substitution of Eligibility

The VA allows a veteran to purchase a second property using his eligibility and retain ownership of his existing property as long as he has paid off his existing VA loan. This is allowed on a one-time basis.

PARTIAL ELIGIBILITY:
Partial Eligibility may be available to a veteran who has previously purchased a VA loan and does not fall within the guidelines mentioned above.

Joan (joni) Trossen, [E-MAIL]
Not Your Ordinary So. CA - Riverside / San Bernardino County - Broker / Agent
40 years of service
I want to be your Southern California Realtor®
909 . 653 . 4341

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