| VA will guarantee a maximum of 25 percent of a | | | | 2-year enlistment, or |
| home loan amount upto $89,912, which limits the | | | | * completed not less than 90 days (any part during |
| maximum loan amount to $359,650. | | | | wartime) or 181continuous days (peacetime), and |
| Generally, the reasonable value of the property or | | | | * were discharged because of a hardship, or were |
| the purchase price,whichever is less, plus the funding | | | | determined to have aservice-connected compensable |
| fee may be borrowed. All veteransmust qualify, for | | | | disability, or |
| they are not automatically eligible for the program. | | | | * were discharged or released from active duty for a |
| VA guaranteed loans are made by private lenders, | | | | medical conditionwhich pre-existed service and has |
| such as banks,savings & loans, or mortgage | | | | not been determined to be service-connected, or |
| companies to eligible veterans for thepurchase of a | | | | * received an involuntary discharge or release from |
| home, which must be for their own personal | | | | active duty for theconvenience of the Government |
| occupancy. | | | | as a result of a reduction in force, or |
| The guaranty means the lender is protected against | | | | * were discharged or released from active duty for a |
| loss if you or a laterowner fails to repay the loan. | | | | physical or mentalcondition not characterized as a |
| The guaranty replaces the protection thelender | | | | disability and not the result ofmisconduct but which |
| normally receives by requiring a down payment | | | | did interfere with your performance of duty |
| allowing you toobtain favorable financing terms. If | | | | * are an unremarried spouse of a veteran who died |
| you're thinking of purchasing ahome in the Cleveland | | | | while in service orfrom a service connected disability, |
| Ohio area, contact me for more information or alist | | | | or |
| of lenders specializing in VA loans. | | | | * are a spouse of a serviceperson missing in action or |
| GENERAL RULES FOR ELIGIBILITY | | | | a prisoner of war. |
| You are eligible for VA home loan veteran benefits if | | | | ACTIVE DUTY SERVICE PERSONNEL |
| you served onactive duty in the Army, Navy, Air | | | | If you are now on active duty, you are eligible after |
| Force, Marine Corps, or Coast Guardand were | | | | having served oncontinuous active status for at least |
| discharged under conditions other than dishonorable | | | | 90 days. When an ending date isestablished for |
| aftereither: | | | | Persian Gulf War service, a minimum of 181 days |
| * 90 days or more, any part of which occurred | | | | ofcontinuous active duty will be required for persons |
| during wartime, OR | | | | who did not havewartime service. |
| * 181 continuous days or more (peacetime) | | | | MEMBERS OF THE SELECTIVE RESERVE |
| TWO YEAR REQUIREMENT | | | | "Selected Reserve" means the Selected Reserve of |
| If you: | | | | the Ready Reserve ofany of the Reserve |
| * enlisted (and service began) after September 7, | | | | components which consists of units and |
| 1980, OR | | | | individualswho participate actively in paid training |
| * were an officer and service began after October | | | | periods and serve on paid activeduty for training |
| 16, 1981 | | | | each year. This includes Army Reserve, Navy |
| You must have completed either: | | | | Reserve, |
| * 24 continuous months or more, OR | | | | Air Force Reserve, Marine Corps Reserve, and coast |
| * the full period for which ordered to active duty, | | | | guard reserve as wellas Army National Guard and Air |
| but not less than 90days (any part during wartime) | | | | National Guard. |
| or 181 continuous days (peacetime) | | | | ELIGIBILITY MAY ALSO BE ESTABLISHED |
| YOU ALSO MAY BE ELIGIBLE IF YOU:were | | | | FOR:certain United States citizens who served in the |
| discharged for a service-connected disability, or | | | | armed forces of agovernment allied with the United |
| * were discharged for the convenience of the | | | | States in World War II. |
| government aftercompleting at least 20 months of a | | | | |